Mortgage Rates Up - Everything Else Housing Down

Recently released statistics from the National Association of Realtors (NAR) indicated that pretty much every aspect of the retail Housing Market did slow down for the Month of August 2022. Sales Volume and Median Sales Price both experienced significant drops. Mortgage Rates topped over 6% for the past week (6.29 % 30 Yr. FRM) and the FED recently raised interest rates 75 bps as a continuation in the efforts to curb inflation. This will not be the last time they raise rates and the Housing Market will further slowdown as the end of the year approaches.