Compared to last week, as expected we are seeing an increase in median sales price, increase in active listings, increase in new listings, and decrease in days on market. However, starting tomorrow the Federal Reserve will meet May 2nd, and May 3rd to determine if interest rates will increase for the 10th consecutive time since March 2022. According to economists in a Reuters poll, The U.S. Federal Reserve will deliver a final 25-basis-point interest rate increase and then hold rates steady for the rest of 2023. Let's see what happens. Besides mortgages, rising interest rates impact the stock and bond markets, credit cards, personal loans, student loans, auto loans and business loans.
