Real estate agent shares insight on rising mortgage rates – WISH-TV | Indianapolis News | Indiana Weather


INDIANAPOLIS (WISH) โ€” Mortgage rates are at their highest point since 2009.

On Thursday, the 30-year fixed rate mortgage was averaging 5.27%, the highest since 2009.

Making your money count might feel tough to manage right now. Inflation is at a four-decade high, mortgage rates are on the rise, and home prices are up and the supply is down.

โ€œYouโ€™ve taken away about 20% of their buying power alone just from Jan. 1 until today,โ€ said Josh Clausen, a real estate agent in Greenwood.

Some economists suggest that home sales this year could decline as much as 10% from 2021 levels.

But even with the uncertainty, Clausen says, business is booming locally.

โ€œI mean rates have gone up over 2 points since Jan. 1, and weโ€™re still seeing droves of people buying homes and weโ€™re getting ready to be right into our busy season. So, you know, people are still doing it,โ€ Clausen said.

The most recent report from mortgage buyer Freddie…

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