According to Freddie Mac, interest rates for a 30-year fixed-rate mortgage have more than doubled since the beginning of 2022, and as of this post they are now above 7 percent.

Where will mortgage rates go from here?

We certainly can't predict the future, but it's conceivable that rates for a 30-year fixed rate mortgage could approach 8 percent by the end of the year. So, for anyone that absolutely needs to sell right now, these next few weeks before the holidays are especially important, because buyer demand continues to decrease as mortgage rates increase.

We'll have much more to share about the market in the coming weeks and months. In the meantime, please reach out to us anytime you're in need of a real estate conversation. We would love to be a resource for you and help you plan for your future.