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Could Fed Interest Rate Hike Help Home Buyers?
News of the Federal Reserve hiking interest rates appears to have caused unnecessary panic among people poised to purchase a first home or a larger one for a growing family.
Headlines and news reports that talk about interest rates being at their highest since 2014 can be alarming. Announcements from the Fed that rates would increase four times in 2018 and again in 2019 seems downright scary. After all, isn’t it logical that increased interest rates mean that monthly mortgage payment could be substantially higher?
As it turns out, neither the click-bait headlines about dramatic rate increases or higher monthly premiums are real-life concerns. A thoughtful look at interest rates and rational thinking about homeownership indicates that today’s market could be an excellent time to buy.
Interest Rates Are Not Frighteningly High
Americans have largely come to recognize that the media thrives on scare tactics to get you to tune in or click a link. Stating that interest rates are the highest since 2014 is a fair statement, on its face. But the reality behind the numbers is entirely different if you take a long look at historical rates.
Homebuyers that stepped into the market as the economy began to surge in 2017 did a fine job ... more
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