Today will be warmer and sunnier than yesterday, but we’ll also see strong wind gusts in a few areas this morning and afternoon. Then after today, warmer, sunnier conditions are expected later this week. Find out more here!
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When it comes to the mortgage and housing markets, there's been no shortage of gloomy news for months. This generally involves slumping sales, lower prices, and higher rates.  All of the above are interconnected to some extent.  The interconnection can be summed up in a single paragraph:
Home prices surged post-covid as demand greatly outpaced supply and low rates increased buying power.  High home prices (and rents) then contributed significantly to decades-high inflation numbers.  Decades-high inflation is the single biggest reason for the fastest rate spike since the 1980s. Newly high rates made buyers increasingly reluctant to shop for homes and homeowners increasingly reluctant to give up the super low rates obtained over the previous 2 years.
In January, it looked like there might be some reprieve for high rates and slumping sales.  But then February happened.  A series of econom