April 2022 Greater Cincinnati Luxury Real Estate Market Report

Mortgage interest rates are up, for non-jumbo mortgages rates in the mid 5 percent are what is being quoted today.  With rates moving up at a steady pace some buyers are turning to Adjustable Rate Mortgages (ARM) as ARMs can start off with a lower overall interest rate.  Month to month the Greater Cincinnati luxury real estate market has seen a slight increase in price and a decrease in average days on market from March 2022.  Some buyers may be wanting to move their cash into real estate as a hedge against the quite high inflation numbers.  As interest rates continue to climb expect the real estate market to face more pressures due to buyers stepping away due to costs going up.

• Mortgage Rates Hit 5.64% - US Government bonds and mortgage rates are on the move upward.
• Total Household Debt Hits New High - Leading the way in this increase of household debt is mortgage debt.