The Mortgage Market Slows Down

Price declines are the last thing to correct in the housing market. With each increase in mortgage rate, you take more bis out of the market. And if you have to sell a house, you're gon to cut the pricewere somebody can afford it. We've alredy seen the mortgage market slow down. There've been lots of lay offs in the mortgage industry already. That's lready happening. A, i expect that we will see the first price declines, not the cash selery nex, butin some of the medium price inthe indises over the next few months.