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These recent mortgage interest rate increases are doing what they were anticipated to do – and that is cooling the red-hot housing market. This is good news for first-time buyers! Investment Executive writes, “The rate hikes have quelled the unruly bidding wars seen in many markets in the winter and encouraging prospective buyers to wait for greater price drops.”

Read more: https://www.investmentexecutive.com/news/research-and-markets/climbing-interest-and-mortgage-rates-cool-outlook-for-housing-market/

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