Fed signals patience with low interest rates has run thin

“Buyers should act now––delayed purchases will only result in higher monthly mortgage payments as prices and rates rise. In fact, our forecast data show affordability may decline as much as 10% over the course of the year.”
– Jonathan Smoke, chief economist at Realtor.com

Well, it had to happen sometime. All the people who took the plunge at McClelland’s Beach over the last few years should be feeling pretty good right about now.