What to Consider as Mortgage Rates Hit their Highest Level Since 2002

With mortgage rates topping 7%, Brown Harris Stevens CEO Bess Freedman recently visited CNN's "Good Day" to discuss the impact the rates will have on buyers and sellers around the country.

In the segment, Freedman provided valuable insight on what needs to happen in the market for conditions to stabilize.

"Buyers should look at what they should afford each month and try to back into it ... Sellers need to bring their prices down, because as you know, during the pandemic, demand was crazy in certain areas. That brought prices up and supply shrunk. Today we have the inverse. Now we need prices to come down so supply and demand can work together to get the market moving." --- Bess Freedman

Watch the interview in full above. To learn more about Bess Freedman and her background, visit the Brown Harris Stevens website.