Consumer anxiety is impacting the housing market, with uncertainty causing potential buyers and sellers to hesitate. Despite a rise in mortgage applications, inflation and mortgage rates remain volatile, influenced by recent tariff announcements. The March Consumer Price Index showed inflation at 2.4%, and mortgage rates averaged 6.62%, but surged to 7% due to market fluctuations. While some consumers are moving forward with purchases, many remain cautious about the effects of tariffs and economic instability on home values.
Continue to full article