Additionally, it is anticipated that the Federal Reserve will implement its first rate reduction in over four years during its September meeting. This action would enable financial institutions to provide more affordable home and auto loans.
Nevertheless, mortgage rates continue to be high, with the 30-year fixed rate at 6.47 percent as of August 8.
During the zenith of the suburban house buying mania in 2020, rates were frequently below 3 percent.
Despite the fact that housing is significantly less expensive in other regions of the country, the Graves have expressed their reluctance to relocate from Portland.
Laura Graves stated, “We actually attempted to relocate the children to a more affordable town, but we ultimately found ourselves less content.”
