High Mortgage Rates Are Keeping Home Sellers at Bay, but for How Much Longer?

Since the final quarter of 2022, higher mortgage rates have kept prospective buyers glued to the sidelines and would-be sellers stuck in their current homes. Wednesday marked the 11th benchmark rate hike by the Federal Reserve among the last 12 Fed meetings, sending the Fed’s rate—which directly impacts mortgage rates—to a 22-year high of 5.25%-5.5%.
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