'No crash coming:' Housing Market Predictions | LiveNOW from FOX
Sales are slowing and rates are rising, so is now the right time to buy home? The average for a 30-year fixed rate mortgage on October 12, 2022 is 7.12%, according to Forbes. Uri Man, Executive Vice President of Land Tejas and CEO of Lagoon Development in Houston, TX, says "no crash is coming." Man says increased mortgage rates have hurt buyers purchasing power, which has lead to a "lock-in" effect, which means people who would typically sell their homes are instead holding on to them because of those unfavorable interest rates.