Mortgage rates, which have recently surged to their highest level since 2008, are also fluctuating more than they have in nearly 30 decades, according to Redfin.
The Corcoran Group president and CEO Pamela Liebman says ‘something’s got to give’ in the current housing market.in over three decades as the Federal Reserve tries to quell painfully-high inflation and cool the economy.
That's making it "extraordinarily difficult to plan ahead" according Redfin Deputy Chief Economist Taylor Marr because mortgage rates are hanging drastically between the time buyers set their budget to when they actually make an offer.For instance, buyers that started their search in July and closed in September saw potential mortgage rates fluctuate by roughly half of a percentage point every four weeks, Redfin reported.
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