Interest Rates

The interest rates nationally have been on a steady increase and the St. Cloud area housing market is feeling the affects. Craig Ehrlichman from Premier Real Estate Services joined me on WJON.

The rise in interest rates has slowed home sales in the St. Cloud area. That according to Craig Erlichman from Premier Real Estate Services in St. Cloud. He explains the rise in interest rates from as low at 2% to near 7% on a 30 year fixed mortgage has created what he calls a "correction" to the market.