Mortgage Rates on the Rise

With mortgage rates recently crossing the 6 percent threshold, home sales cooling significantly, and fears of a recession looming across the national landscape, the housing market appears to be firmly in “correction” territory.

That’s a quick assessment of the real estate climate entering the fourth quarter of the year, a time during which the experts anticipate a further slowdown of sales, rates drifting even higher, and increased uncertainty from both buyers and sellers regarding what to do next. Yearning to learn how the housing market will shake out over the next three months? Here’s what industry insiders have to say.

Q4s traditionally slow for real estate

Traditionally, housing market activity tends to decelerate in the fourth quarter, a period that usually proves to be the slowest three-month stretch of the year.