01/07/2022
Interest rates are going up - what does this mean?!
Little story for ya. One of my previous buyers moved into their home beginning 2021. 2,000sqft home for $320k. He’s thinking about making that house a rental and then buy another home soon in 2022. He talked to my preferred lender and to his surprise, he was approved for LESS than last year even though he got a raise and is making more money this year. His buying power decreased. And now a 2,000sqft 4 bedroom home in his desired area is valued at $370k?!?!
How could this be?!
📈Interest rates are going up
📈Housing prices are STILL going up
The current market predictions are that both will CONTINUE to go up this year. Why does this matter? What does it mean for you??
It means if you’re thinking of buying but you’re waiting for the market to crash or waiting for prices to stop raising, talk to me about buying now. Don’t wait.
You don’t want to look back knowing you could’ve afforded the bigger home but decided until it was too late. Take advantage of your buying power NOW🔥