Mortgage rates are rising alongside home prices. The New York Times reports the average rate for a 30 year, fixed-rate mortgage is the highest it's been since May 2019.
This could be good news for sellers, but buyers are feeling the double squeeze of high prices and rising interest rates. According to industry economists, many would-be buyers
will likely jump into the market now before the rates rise even further. That's because higher rates make te overall cost of homeownership less affordable.
Potential buyers' fear of missing out (FOMO) on low interest rates is predicted to supercharge the already busy spring and summer selling season, says Inman.com.
Author:Karin Waterschoot-Perez Phone: 614-774-1741 Dated: September 6th 2022 Views: 167 About Karin: Executive Vice President of Sales
Experienced Realtor, Karin Waterschoot-Perez, currently serves ...
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Areas of Expertise: Single-Family Homes, Rehabs
Biographical Info for website and promo materials: First year realtor and real estate investor. Previously sold medical surgical equipment and before that I played professional football in the NFL. I am a father to a baby girl, Mia, and expecting another daughter very soon. Married to my beautiful wife, Jackie, for 2 years and have been together since high school. Love our dogs and spending time outdoors.