Mortgage Rates Now Over 7% | Real Estate Has FLIPPED

Real Estate
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The real estate market was supported with very low and historical interest rates. The mortgage rates allowed both property owners and investors to sell their homes, apartment buildings, office buildings and mobile home parks for record prices due to the low cost of mortgage debt. The housing market has officially flipped as mortgage rates went from 2.875% on a thirty year fixed rate mortgage to over 7.1% on a thirty year fixed rate mortgage. This equals big signs of trouble for the housing market and home affordability. We are witnessing the end of an affordable life in America for hundreds of millions of Americans. We will see home ownership and home affordability slip away. Many investors and property owners who want to sell their home will likely have to do so at a lower price today than what they were able to fetch in the housing market just six months ago.

Do you think the housing market has flipped? Do you think the real estate market will get punished with high mortgage rates? Where do you see the housing market going for house flippers and airbnb investors?


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