With rates going up, will the market to slow down?

Since Jan. 1, 2022, interest rates have jumped more than 1.0%. Ongoing concerns regarding inflation are driving the market and pushing COVID-19 concerns aside. Last week the Fed announced they are going to raise interest rates in 2022 and at a faster pace than the market expected.

Does this mean the market is going to slow down? The answer is in what motivates people. It may seem counterintuitive, but the increase in rates will create a renewed sense of urgency in many buyers as they look to purchase their new home before rates move even higher.

Read my full article.

– Brett Carter, Fidelity Direct Mortgage