Home price growth expected to slow

As mortgage rates continue to climb – some analysts predict 5.5 percent or even 6 percent by the end of the year – many would-be home buyers find themselves priced out of the housing market. This, of course, means that there is less competition for those who are still in the market which should translate to a slower price escalation and less need to bid over the asking price.

According to the Mortgage Data Association, mortgage applications were down 11.1 percent for the week ending April 29.

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