Dotty Herman News Today

Sit out this market. new data this week shows that sales of existing homes in september fell nearly 24% compared to last year. and are down 1.5% compared to the previous month. so why are mortgage rates rising so much? well like many things in this chi, the answer lies with the fed as they try to cool inflation by slowing spending, it is raising the key interest rate and that impacts borrowing for us consumers including mortgage rates and in the housing market were seeing slowdown in spending. e...

If youre locked in at 3 or 4, there has to be a huge incentive for you to want to buy on this market. >> a year ago, the monthly payment would have been $1,700, today that same mortgage, about 7%, just about 2,600 thats $1,000 a month more just in interest. you cant afford the same size house. maybe people are going to wait. >> whats the advice that home buyers are being given. >> i spoke to dotty herman yesterday whos a real estate pro, has been in the business for decades and said, what are yo...