Consumer Warrior Clark Howard: higher mortgage rates could help housing prices

JACKSONVILLE, Fla — With mortgage rates continuing to climb, Consumer Warrior Clark Howard says while this hurts the affordability for first-time buyers, it can help moderate selling prices.

Clark said, “What happens is essentially buyers eventually go on buyers strike. You get to a point where you just can’t afford to make the payments and so that creates a process of what they call price resistance.” Clark adds that price resistance will be part of what heals the runup in the housing market. “The continuous up, up and away...that’s not what’s going to happen with higher mortgage rates.”

You can find more tips from Clark on his website.


On AirHot 106.5 - Duval's ONLY R&B Logo

mobile apps

Everything you love about myhot995.com and more! Tap on any of the buttons below to download our app.

amazon alexa

Enable our Skill today to listen live at home on your Alexa Devices!