Source: WWNYTV 7 News —
WATERTOWN, New York (WWNY) – Mortgage rates are right around 7 percent for a 30-year fixed rate. Nationally, rates are at their highest since 2006 and they’ve nearly doubled since last year. So, what is this doing to the local housing market?
“If you’re on that cusp, you may be pulling back and thinking about it. Some people, even cash buyers, may be hesitating,” said Lance Evans, Jeff-Lewis Board of Realtors.
Data from the Jeff-Lewis Board of Realtors shows about an 8 percent drop in Jefferson County home sales in the first 9 months of 2022 when compared to last year. Realtors are noticing but not worried.
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