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Home Affordability Worsens as Mortgage Interest Rates Rise

According to the latest data from the National Association of Home Builders (NAHB) the share of adults planning a home purchase in the next 12 months dropped to 13% in the final quarter of 2022. This is down from 15% in the previous quarter and is not surprising, given that housing affordability worsened during this period, as mortgage interest rates surpassed 7.0% and reached levels not seen in nearly 20 years.

Here is the article from NAHB with additional information on the housing market:
Fewer Adults are Planning a Home Purchase

If you’re thinking of buying or selling a home in the near future, paying attention to changes in mortgage interest rates is important. With rates on the rise and housing affordability worsening as a result, now may not be the best time to wait on the sidelines. For buyers, acting sooner rather than later may be your best bet. And for sellers, if you’re patient and willing to hold out for the right buyer, you may be able to get your asking price.

During home buying, selling, and ownership there are times when you need to have documents notarized. The team at Notary Near You makes this process as easy as possible with our mobile notary service.  We come to you where ever you are, and at a time that works in your calendar!

Have questions about how our mobile notary service works? Please contact Notary Near You at 877-395-2650 or visit our website and we will gladly answer any questions you may have.

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Notary Near YouHome Affordability Worsens as Mortgage Interest Rates Rise

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