Mortgage rates have reached their highest level in over two decades, resulting in changes in our housing market.

To name just a few of those changes:

• Existing home sales have plummeted, while new homes are selling quickly due to the scarcity of available properties.
  

• The Federal Reserve's substantial interest rate hikes over the past year have made mortgages much costlier, dampening the housing market.
  

• July saw a nearly 17% decrease in sales of existing homes compared to the previous year, according to the National Association of Realtors.
  

• The average rate for a 30-year home loan has surged to 7.23%, the highest since 2001. As a result, the monthly payment on a $300,000 loan is now approximately $330 more than it was last summer.

Need help? Here are 2 ways you can succeed right now :

2 Ways to Succeed in Today’s Market

1. Know your market, knowledge is power 💪

2. When you see an opportunity, go for it!
   

Opportunity isn’t going to come knocking. You’ve got to go find it!