Mortgage rates are double where they were a year ago, making home buying a much more costly endeavor. Home sellers are trying to help them out.
Buyers are not feeling the market, depressing mortgage demand. Rates are hovering at around 7%, which adds hundreds of dollars in additional monthly payments for prospective buyers’ budgets.
Even though the number of for-sale homes is growing, they’re still expensive, creating affordability issues for buyers.
Some builders and sellers are getting more creative, and offering ways for potential home buyers to lower their mortgage rate and monthly payments.