We’ve come a long way, kid.
Funny how lousy of a memory we have…. Our mortgage interest rates have been really low, and for a really long time. For much of the housing recovery, we delighted in rates in the 3’s. Then in December 2017, the 3’s quickly became a thing of the past. Our rates have been bouncing around in the 4’s every since, and we seem to be comfortable in that range.
It is just a matter of time before our interest rates move into the 5’s. We haven’t had interest rates in the 5’s since September 2009. But get ready kids, more likely than not, the 5’s are coming and will be our new normal for 2019 and beyond. The feds have hinted that they plan to raise rates in September and December this year, so that “5” could be closer than we expect.
How Interest Rates Effect You:
Why NOW Is a Great Time To Talk About This:
The real estate market is changing, and a lot of folks have a case of the nerves around it. It’s very common to get nervous when you perceive the market to be not as predictable as it was. I can try to reassure you that everything is fine, or I can address the issue and give you information around it. If you know me at all, you know that I like to talk about the elephant in the room, and no real estate or money topic is ever off-limits to discuss. Don’t be afraid friends. Be informed. Weigh your options. Ask me questions. We are in this together and I have your back til the end!