Housing Market Update – May 2022

Eric & Debra Ross
Published on May 28, 2022

Housing Market Update – May 2022

Welcome to the Monthly Market Report for May 2022. We want to give you the insights that you need to help confidently make the best decisions when buying and selling a home. We are your real estate advisors.

Based on the current estimate for the peak Fed Funds rate (3.25% to 4.0%), the 30-year fixed mortgage will likely peak at between 5.0% and 5.7%. There is some variability in the relationship, so we might see rates as high as the low 6% range. (This all depends on inflation and the Fed Funds rate – but I don’t expect rates to move much higher than the current rate – although 6% is possible).

Bill McBride, Author, Calculated Risk Blog

Here are the 3 most important takeaways you need to know right now:

  1. Home Foreclosures – The number of home foreclosures is at a historic low.

2. Mortgage Payments – Rising rates and prices could greatly impact the monthly payments of homebuyers.

3. Affordability – The Home Affordability Index is declining closer to historical levels.

Read all the details and download your complimentary Housing Market Update for May 2022 now. 👇

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