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Stats at a Glance

May Detached Median Prices (Month over Month) 0.7% DECREASE
May Attached Median Prices (Month over Month) 0.1% DECREASE
May Detached Sold Listings (Month over Month) 4.4% INCREASE
May Attached Sold Listings (Month over Month) 7.1% INCREASE

Local real estate market statistics are updated here monthly.

Global Connections

Impact of Fed Rate Hike is Expected to be Negligible

July 31, 2023

On Wednesday, July 26, the Federal Reserve again decided to raise interest rates for the 11th time in 17 months in a continuing effort to counter inflation. Even though the hike bumped interest rates from 5.1% to 5.3%, the actual impact on the mortgage rates should be minor, at most.

While the federal reserve’s interest rates do play an important role in determining mortgage rates, they are independent of one another, and mortgage rates are created from a combination of financial markets and individual application details.

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admin May Detached Median Prices (Month over Month) 0.7% DECREASE May Attached Median Prices (Month over Month) 0.1% DECREASE May Detached Sold Listings (Month over Month) 4.4% INCREASE May Attached Sold Listings (Month over Month) 7.1% INCREASE