As I mentioned mortgage rates remain in the 7% range as the Fed’s have yet to make the first reduction to the Federal Funds rate, June is their next opportunity. Recession fears seem to have been replaced by inflation fears leading me to believe the economy is about right. So long as wage inflation holds steady we should see mortgage rates drop to the high 5%’s in the fall. High 5% to low 6% mortgage rates are available with special programs and buy-downs, call me with questions.

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