Dotty Herman News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 we're seeing slowdown in spending. existing sales have fallen for eight months in a row. but what about home prices. prices have yet to...

If you're 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 that's $1,000 a month more just in interest. you can't afford the same size house. maybe people are going to wait. >> what's the advice that home buyers are being given. >> i spoke to dotty herman yesterday who's a real estate pro, has been in the business for decades and said, what are you telling people? she said something i was surprised to hear. for buyers, if you can afford it,...