The spring real estate season is a couple of months away, but with interest rates rising along with home prices, concerns are starting to emerge about the impact on housing sales. Typically, the start of the warmer weather brings out home buyers who want to close on a deal before the summer is over. That means they are out hunting in the spring and settled in their new homes before the school year begins. Mortgage rates have been rising in recent weeks, with CNBC noting that a large sell-off in the bond market is partly driving them higher. Coupled with rising prices for homes, this could result in a decline in home purchases.
Source: Donna Fuscaldo