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Experts believe upcoming rate-hike has low impact on mortgage rates.

Location
Seattle, Portland, San Francisco
Publish Date
2022/06/28

Interest rates have reversed course, with the 30-yr fixed-rate mortgage ↑ to an avg of 5.23% following a 3-week decline.The housing market is incredibly rate sensitive, so as mortgage rates increase suddenly, demand pulls back. The material decline in purchase activity combined with the rising supply will cause a deceleration in price growth to more normal levels. Experts believe that the upcoming rate-hike will likely have a smaller impact on mortgage rates.

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