According to CNNMoney, the increase in home prices may be slowing down due to the rising interest rates. The increase in June was still significant as compared to last year, but it was the first time in twelve months that we didn’t see the gain exceed the previous month. In May, we saw a gain of 12.2% over the last year while June only saw a gain of 12.1%. Experts put the blame on rising mortgage interest rates which climbed up a full point since May.
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