What do rising interest rates mean for the average potential home buyer?

SAN DIEGO (KUSI) – With inflation rates and gas prices at record highs, it comes as no surprise that buying a home is getting pricier.

According to home loan company “Freddy Mac”, mortgage rates are up by more than half a percent point.

This brings the average rate of a 30-year fixed mortgage to 6.28%.

Trent Cady, Realtor with the ‘Mike Cady’ Realty Group, joined KUSI’s Hunter Sowards on “Good Evening San Diego” to talk more about the state of the current market.

You can contact Trent at (619) 993-1816 or trentcadysales@gmail.com

Follow Trent Cady on Instagram at @TrentSellsSD

 

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Categories: California News, Good Evening San Diego, Local San Diego News