Mortgage rates hit a two-year high last week: The average 30-year fixed rate mortgage sat at 7.12% for the week that ended Sep. 18, according to the Mortgage Bankers Association, and reached 7.26% as of this Wednesday afternoon. Meanwhile, mortgage applications have declined again for the third week in a row. Potential buyers aren’t thrilled about buying when mortgages are this high, so demand is down, which makes sense. But something else a little weirder is happening too. “We’re also seeing more homeowners deciding to list their homes,” said Redfin Chief Economist Daryl Fairweather. “Either these sellers are just tired of waiting because it’s been so long that mortgage rates have been high, and if they’re waiting for a better market, maybe they realize that that better market isn’t coming, or they are getting nervous that prices might fall.”More sellers means

 

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