How will rising rates impact buyers and sellers in our market? Let’s find out.
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The Fed has done it again: Interest rates have once more gone up 0.25%. So what does this mean for our market? Actually, from speaking with our team’s mortgage experts, we’ve learned that right now most buyers will see a rate between 4.75% to 5%, depending on what they qualify for. If rates do continue to rise, this could put downward pressure on our market. That said, values are flat, rates are still aggressive, and transactions are still taking place. If you’re curious about what this might mean for you, specifically, we’d be happy to have a conversation about your circumstances.
