US mortgage rates hit 5% for first time since early 2011
bloomberg.com
2 threads
10 1/4 percent fixed-rate mortgage in 1988. 5%, while a tidy sum, is nowhere near they've been.
Wonder what will happen to house prices. Flatten out or drop soon?
People still moving to lower cost areas, so houses in those areas likely to not change much until inventory improves imo.
Also the rate is still lower than the inflation rate.