The Impact of Mortgage Rates on Real Estate in Greater Cincinnati
The Impact of Mortgage Rates on Real Estate in Greater Cincinnati
According an article written by David Blitzer published in S&P Dow Jones -Housing Views- rising mortgage rates haven’t had major impact on the real estate markets in the past.
Source:S&P Dow Jones Indices – Housingviews
The chart reflects the correlation between mortgage rates and the S&P/Case-Shiller 20 City Index historic fluctuations in mortgage rates haven’t impacted housing prices. According to the article….” Looking at the last 12-1/4 years, no strong cause and effect relation can be seen.”
Based on past experiences selling homes during times with high interest rates, both buyers and sellers adjust to the realities of the local market Cincinnati real estate market. However as the economy bumps up and down- it would be interesting to see a third indices added the chart- unemployment rate.
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