The average 30 year fixed mortgage rate went up again for the weekend in the first of June. It went up to 6.79%. Last year at this time it was at 5.09%, and the 15 year fixed rate mortgage rate went up to 6.18%. Last year at the same time averaged 4.32%. The last three weeks, as we know, mortgage rates have been going up. That is because of the level of concern related to what the FED might do when they meet in a week or so with the FED rates. Of course, the indicated last month that maybe they'll pause because the economy has been so buoyant lately; there is concern that might not be the case.

There's not much we can do about this. I know you've heard it before but it is definitively true that these interest rates or mortgages are not high when you look at historic years past. Of course, they're high compared to 2022 and 2021,

because of the two unicorn years that I spoke about at the beginning of this week.

You can make things work at certain budget levels, and I know that it will affect some of you in terms of what your monthly expenditure can be. It's really important if you need to move, and desire a move, that we just try and work through these numbers and understand what works for you. Let's see

what happens in a week or so, but contact me if you want to talk through the implications of all this on your budget.