Will interest rates rise – ToddSellsOrlando.com

What recent bank failures mean for mortgage rates (and you)-Todd Mowry Your Local Orlando Area Realtor

The recent collapse of Silicon Valley and Signature banks sent shockwaves through the financial sector, causing a ripple effect through the economy.

While the situation has been challenging, there’s also been a silver lining in real estate:

Mortgage rates are down.

Read on for a summary of the situation, as well as what it means for homebuyers, sellers, and owners like you.

Last year, one factor drove the real estate market more than any other: rising mortgage rates. In March 2022, the Federal Reserve began a series of interest rate hikes in an effort to pump the brakes on inflation.1 And while some market sectors have been slow to respond, the housing market has reacted accordingly. BothContinue reading “2023 Real Estate Market Outlook (And What It Means for You)- Todd Mowry Your Local Orlando Area Realtor”