The Campins Company founder Katrina Campins weighed in on the real estate market, noting that the interest rate-sensitive housing market has started to cool noticeably.
National Association of Home Builders CEO Jerry Howard addresses the 'huge drop' in the homebuilder sentiment index on 'Varney & Co.' – the most popular among new homeowners – climbed to nearly 6% in June, though they've since moderated. The average rate for a 30-year fixed rate mortgage hovered around 5.51% for the week ending July 14, according to recent data from mortgage lender Freddie Mac.
The real estate expert provided the insight on the same day it was revealed that U.S. existing home sales dropped to a fresh two-year low in June as rising mortgage rates and the relentless increase in home values slowed activity by edging prospective homebuyers out of the market.Sales of previously owned homes tumbled 5.4% in June from the previous month to an annual rate of 5.
The Campins Company founder Katrina Campins discusses the real estate market, noting that there has been a ‘slowdown’ as interest rates have been rising.
"The reason for that, the old saying is, ‘You marry the house and date the rate,’ so if you still find a house in this market that you love, you can always refinance later on," she continued.
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