How will rising interest rates affect the average buyer and seller?
Interest rates are set to rise four times in 2022. According to the Federal Reserve, rates will rise in March, June, September, and December. For buyers, a 1% rise means their monthly payments will be affected by about 10%, and their buying power will shrink. For sellers, this means that more money is going to the bank instead of the seller. Sellers will have 10% less selling power from a 1% rise in interest rates.
Take advantage of today’s rates because they’re still historically low. If you’d like to know how we can help you get ahead of rising interest rates, visit highperformancerealestate.com, and don’t hesitate to give us a call. We look forward to hearing from you.