- Artificially low interest rates
- 10 years of slow new home constructions
- The delays in the supply chains to build homes. Higher building costs due to the higher demand.
- The millennials population segment is growing.
- The good old fear of missing out FOMO
Mortgage Rates and Home prices are going UP UP UP. You probably noticed that home prices have been on the rise and interest rate are following since January of 2022, But you may not know why. Hi I’m Racheli Refael a mortgage advisor here in Sunny South Florida. Let me go over 5 reasons why this is happening and what you can do to prepare. The unfortunate thing is that all those forces are happening all at the same time like The perfect Storm.