Mortgage brokers, mortgage agents, and mortgage lending

According to a story I read in CBS/AP news, it says the mortgage rates have returned to a four year high since 2002. Mortgage rates are at 6.80%. I don’t know about where you are but I have seen houses in our neighborhood have been on the market for six months or longer. That is a clear indication to me that the market had slowed down. About two years ago, if you put a house on the market in our neighborhood, within a week to seven days the house was under contract. My husband and I was just discussing the other day that we do not believe that this is a good time for a house to be on the market here in Colorado . The people are selling their houses at a lower price just to get out of it. It appears to me that they could even be upside down in their mortgage. There are times when job relocation, job loss or even unfortunately divorce takes place and the house has to be sold. When situations of this nature occur and the market has shifted, people are not always at liberty to wait for a second offer if it took six months for the first offer to come along.