Homeowners Rush to Unload Properties as Rates Rise


Rising mortgage rates could lead potential home buyers to shun the market, avoiding exorbitant interest payments.

As a result, homeowners interested in selling are rushing to dump their domiciles before possible buyers run away, The Wall Street Journal reports.

The Federal Reserve in March began its campaign to raise interest rates, with a 0.25-percentage-point move. And many economists and investors expect a half-point hike in May.

Meanwhile, bond yields continue to rise, with the 10-year Treasury yield climbing 0.38 percentage point in just the past two weeks to 2.62%.