Here’s the real danger to the recovering housing market

interest-rates
Wickipedia

First American explains new construction’s future role in housing

By Kelsey Ramírez | HousingWire

Interest rates continue to increase since the election of President-elect Donald Trump, bringing with them new dangers to the housing market and affordability.

The 30-year fixed rate mortgage increased for the fifth consecutive week and reached a new high for 2016 this week at 4.13%, according to Freddie Mac’s survey.

This increase is already making waves in the housing market. According to Black Knight’s report, the number of potential refinance candidates fell by more than 50% over the last few weeks.

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