A recent article by the Denver Post alluded to Denver’s home appreciation rate, which continues to rise despite increases in mortgage interest rates. The average mortgage interest rate, which has risen roughly half a percent in the past year, just hit a 4-year high.
Typically, a rise in interest rates reduces a Buyer’s purchasing ability and may lower home prices. However, Denver continues to experience rising home prices in a market starving for inventory with no shortage of Buyers in sight.
