Nationwide, it’s been an unusually hot summer—and we’re not just talking about the weather.
Home prices have been driven to an all-time high as buyers compete for limited inventory. And building material costs have skyrocketed amid a shortage of labor and materials.
But will the temperature keep rising? Or is the real estate market poised for a cool down?
Today, home prices are appreciating. When we hear prices are going up, it’s natural to think a home will cost more as home prices increase. However, historically low mortgage rates are actually making homes more affordable, even as prices rise. Find out what the lowest mortgage rates in history mean for home buyers and home owners.