Rates are out of control????
With all the talk if rising interest rates, I thought I would share a little history. Being a local REALTOR® for 29 years , I have seen rates go up and down.
There has been lots of talk about folks inthe past 2 years that have oveer paid for homes and some have. However, over paying and securing historical low interst rates, as low as 2.25% may not have been such a bad deal. This was almost like free money.
The scare of rates rising, I feel will slow the overall housing market. Prices shot up for fast, and rates remained low allowing some buyers, to get homes they would not have qualifed for if rates were at at the nations average. with prices leveling out, and rates rising at the same time, this might be a bit of relief for some to increase the inventory, and lessen the competitive market we have seen in the past 24 months. I feel strongly that a rate of 7% to 8% are still a good rates. I am not sure if we will ever get back to the 2% and 3% , but we will see.
If you have any questins or concerns, please feel free to reach out- 910-330-5803. Call or text. I will be happy to discuss your current place in todays market.