Big changes in interest rates and the housing market are driving homebuyers and homeowners to ask these questions.
The housing market is a serious issue right now. Home prices have been steadily increasing since the end of 2020, edging many homebuyers out of the market. The Federal Reserve recently raised interest rates in an attempt to quell inflation. At least preliminarily, these rate hikes seem to be cooling the market. However, at the same time, they’re increasing the mortgage costs of buying or refinancing a home. So, should homebuyers and homeowners rush to buy a home or refinance an existing one before the next hike?
Average home costs, interest rates, and what to consider as a homebuyer in 2025.
Speak with a HUD-Certified housing counselor to explore your options.
