I just read a report that shows a record jump in mortgage rates. It's the largest weekly increase in 21 years and will affect anyone attempting to finance or refinance a home. This will seriously hurt buyers and sellers in the coming months but hopefully not beyond that time span as many experts forecast that rates will drop again reasonably soon. Right now though it is a roller coaster ride in the mortgage arena. Buyers would be wise to put off purchases until some sign of stabilization becomes evident. That of course is not good news to sellers in the local area who are already experiencing above average days on the market and falling market values. It's not good news to agents either who, if carrying a large inventory of lingering listings must pay out the big bucks to keep the advertising front and center for these properties. Not a good time to have a big listing inventory. And sellers who see no advertising of their homes tend to agent jump thinking that will correct the problem.

Want to catch the latest listings for Washington County updated daily? Best place to do that is to visit my web site. I update daily with the days newest listings around the county. You can also check out all the available listings there.


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