At the end of June, mortgage interest rates moved into the fours. Psychologically, the jump has given buyers an itch. Rates have surged since the U.S. Federal Reserve began to slow its purchases of U.S. government bonds on which market rates are based. Those purchases have kept interest rates at record lows. What does this mean if you're buying or selling in the local market?
Listen to a conversation between business journalist Karen Burkett and Dr. Ken H. Johnson, professor of real estate at Florida International University, on what this means for buyers and sellers in the South Florida market.