11/17/2021
Interest rates are on the rise. From my lender partner yesterday at C21 we got a report that there have already been 3-4 mid day rate adjustments in the last week, some affecting those with pending transactions.
For thirty year fixed mortgages, good scores, you can still find some low 3βs, 15 fixed still some mid-upper 2βs (%). But the rates are edging up as inflation rears itβs ugly head. Your dollar a few months ago is now worth 95 cents. Meat prices (beef) have risen nearly 20% in that time to lead the way.
Higher rates mean lower buying power for buyers, and new pressures on pricing for sellers too. Any questions, PM me. I work with the best!