Prepare for a housing correction/crash

National average 30 year fixed mortgage printed at 6.47% plus .4 points. That rate has roughly doubled in the last year. Housing prices have started to drift a little lower, but they have nowhere near reflected the massive increase in rates. It will take a while, but unless rates swiftly retreat I can’t see how hosuing prices don’t decline 20% or more from here, possibly a lot more.

* This article was originally published here

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