Many economists are calling for interest rates to rise stating that higher interest rates are the sign of a healthy economy. This may be true but it will surely punish the lower middle class and lower class income earners. The higher interest rates will prevent those with limited income from qualifying for a mortgage. The affect will be to give those with a healthier income the ability to buy without competition and thus taking advantage of higher interest rates. The affects of higher interest rates won't stop there either. Those impacted will be unable to make purchases that would be deemed unnecessary such as clothing, cars, movies, concerts and sporting events. The lack of these people having the ability to purchase these products will enable those with the funds to purchase tickets at a discounted price since the number of ticket buyers will be much lower. Raising Interest Rates benefits the middle middle class, upper middle class and upper class at the expense of those in society that could most use a break.
Your Friends & Realtor,
Tony & Dani Lewis RE/MAX of Valencia
Call/Text - 661-510-7975