Current Market Trends
According to the most recent reports, home prices are currently around 11.4% higher in October than they were in October 2021. But the stocks of Home Depot and Lowes are rallying after good quarterly earnings. Seems as though Americans are spending more money fixing up the homes that they currently live in at mortgage rates that were locked in around 2.75% from when the pandemic was subsiding as opposed to buying new homes with inflated purchase prices, and mortgages in the 6.75-7.25% area for a 30 year FRM.
Anyone have any thoughts on this? Have you been thinking about making improvements in your own home as opposed to searching for a newer build at a higher rate? Or does the interest rates/mortgage rates not matter much to you?
Interested to know everyone's opinions!
