What does the Increase in the Interest Rate mean for Buyers and Sellers in the housing market?

The interest rate increases are slowing down! They went from increases of 3/4%, to 1/2%, and now it’s at 1/4%, and mortgage rates are coming down too. So it’s good news if you’re buying a house right now. As people want to move on with their lives, they can start looking at creative solutions to their changing housing situations. For example, instead of buying a larger property for the time being you could opt to buy a smaller property, and use it as a stepping stone towards that dream forever home. Save money, and think of your other options – could you consider moving out of the county? The good news for the real estate industry in general, is that in February this year, pending sales were only down 5% from last year, so activity is really picking up.