Rates Increase-Money Shifts from Sellers to Banks

Buyers are losing purchasing power by the weeks as the Federal Reserve continues to increase rates. According to the chart above 3,500 Monthly Payment back in 6-Jan-22 would have the purchasing power 807,267.00. Just this past week that purchasing power has decreased to 643,898.00 with the interest rate climbing from 3.22% to 5.11%. They are predicting interest rates could be as high as 8% by end of year! We currently are in the middle of the market shift and as market experts fear the beginning of recession.