Buy Now? Or Wait For Interest Rates To Fall?

By
Real Estate Agent with Joe Manausa Real Estate 8508880888

Do you buy a home now or wait for next year? Mortgage interest rates have risen significantly and you probably have made some assumptions about how the housing market will respond. See how your assumptions played out in the past!

Do You Buy Now Or Wait?

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Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917

Comments (9)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Joe - the question is much like that of market timing in the stock market.  Have a plan and work it.

Jul 05, 2022 07:48 AM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Joe, that's the question of the day. Competition is slower than it was so it would seem to make sense to buy now if you can and refinance later.

Jul 05, 2022 07:48 AM
Joe Manausa - Tallahassee, FL
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

I agree Carla, with values still moving higher at a rapid rate, buy a refi seem the way to go.

Jul 05, 2022 07:59 AM
Joe Manausa - Tallahassee, FL
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Sounds like a plan Grant, thanks for commenting.

Jul 05, 2022 08:00 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Joe, great video to share with us here in the Rain.  Make it a great day!

 

Jul 05, 2022 08:03 AM
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Interest rates will continue to rise. The Fed is supposedly fighting inflation by raising rates. However, the inflation is a result of the administration's war on oil. The administration continues to denounce the oil companies and even the individual gas station owners, instead of rescinding the rules they imposed on day one of administration.

If the root cause of the oil price debacle isn't reversed, then rising interest rates may push the economy into a recession without lowering the gasoline prices. We may end up with inflation and high gas prices and unaffordable new mortgages!

Jul 05, 2022 08:21 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Often when homebuyers wait for interest rates to decline, they are disappointed when they don't.  Also, home prices may escalate if a rate reduction materializes, off-setting any benefit in the wait.

Jul 06, 2022 05:03 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Joe, on having this blog FEATURED in the Old Farts Club group!  

Jul 06, 2022 05:05 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Excellent information as always.  Love your videos!  I watched the entire video and couldn't agree more.  Having been in finance in a previous career, those folks have the wrong idea about housing.  They (finance people) mistakenly feel that we will drop in value by the amount we went up, 30%.  I doubt it's 30%, but we may see some decline in prices as some will panic, especially if they are over-priced, but our market in Phoenix is still a hot market with MANY companies moving here.  That dynamic has really pushed our demand higher.  

Jul 07, 2022 11:22 AM