Fast rising interest rates have caused an upheaval in the real estate market, as the Fed raised rates home sales have slowed and it is creating a unique opportunity for buyers. However, many buyers are getting hung up on the higher interest rates.
Here are a few small things to consider, historically rates have averaged in the 6% + range. The low 3% rates were a historical low that was brought on by the Great Recession and we may never see rates that low again.
One thing you may consider is starting with an adjustable rate that is fixed for 5, 7 or 10 years, those rates are currently in the 4's and remember you can always refinance the next time that rates come down.
Use our simple philosophy : Date the Rate, Marry the House!
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