As most of you have heard, we endured yet another rate hike a few weeks ago, and another one a week after that, which puts current rates right around 7%. This adjustment has already caused some ripples in our local market. Our number of new listings and sold properties both dropped roughly 40% over the past few weeks. These rate changes in combination with our local winter market has resulted in a fairly significant market shift. These changes have slowly forced sellers to lower their prices over time which is starting to create a buyers market, although most buyers still have to contend with the higher rates. My personal opinion is that these rates are temporary, so why not take advantage of the buyer friendly market now, and refinance to better rate when they come back down to earth? | 
