Mortgage rates have hit a 23-year high, and home prices show few signs of cooling

Mortgage rates have hit a 23-year high, and home prices show few signs of cooling. However, Redfin says that all hope is not lost for people who want to buy a home soon.

There are a few reasons why Redfin is still optimistic. First, the average mortgage rate is still lower than it was at the peak of the housing bubble in 2007. Second, the job market is strong, and wages are rising. This means that more people can afford to buy a home, even at higher prices.

Redfin also notes that there are some signs that the housing market is starting to cool. For example, the number of new listings is increasing, and the number of homes sold is decreasing. This suggests that there may be more homes to choose from and less competition among buyers in the future.