Record High Mortgage Rates Impacting Property Transfer Revenue 

The average interest rate for a 30-year fixed-rate mortgage rose to 7.31% this week, signaling a high not seen since the year 2000, according to the latest data by Freddie Mac. That’s an increase from last week’s average of 7.19%. 

Additionally, the average rate for a 15-year fixed rate mortgage rose to 6.72%, up from last week when it averaged 6.54%. And this could continue to make housing less affordable as home prices also continue to rise.