The graph displays the 30-year interest rates for a fixed term, spanning over 1 year. Despite reaching a peak in November and experiencing another smaller peak in March, we have been unable to surpass (drop below) the range of 6-7%.

As previously discussed in a recent post about payment disparities and interest rates, there is only a 30% increase in payment when going from a 3.5% to 6.5% loan, not double. Similarly, a shift from 3.5% to 5.125% results in approximately a 15% difference in payment.

These findings are crucial to inspire sellers to place their properties on the market.

I am off to three meetings this morning and just finished my second cup of coffee. Have a fantastic day, Friday is tomorrow.