My analysis of our rising interest rates and how they’ll affect buyers.
We have seen an unprecedented jump in interest rates over the last few months. This is happening because the Federal Reserve is very worried about the high rate of inflation in the economy. One of the only levers they have to cool things down is increasing interest rates. What does that mean for you as a homebuyer?
For starters, homes are going to cost more because of higher interest rates and lower supply, which pushes prices up. The government is doing everything it can to not overheat the economy, but it’s going to lead to some painful repercussions.
So should you buy now or wait? Your decisions should always be based on your needs. The real reason you should consider moving is because of a life event. Those things rarely come at a planned time or in a particular market. However, if you can align your goals with the market, you can create a win-win situation.
If you or someone you know needs guidance as a buyer or seller in today’s market, we’ll help navigate you through it and try to create a win-win situation. If you have any other real estate-related questions, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.