“Mortgage rates could hit 8%, economists say, citing a worrying sign not seen since the Great Recession”
August 17, 2023
“…Three experts told MarketWatch that if the economy continues to show signs of strength, and the U.S. Federal Reserve hikes its benchmark interest rate once again, rates could go up to 8%.
High rates have already taken a toll on the U.S. housing market. Even home builders, who have in recent months experienced strong demand from homebuyers, are reporting a drop in buyer traffic as those rising rates rattle their customers…”
The simple solution for would be homeowners is to wait. Don’t buy now. Just wait until rates come down.