Increasing Interest Rates...What Does This Mean For You?
Let’s play a little guessing game:
They go up, they go down, and they always cost you a lot in the end.
If you guessed interest rates, you’re right! After years of incredibly low interest rates, we’ve seen them jump quite a bit in the last few weeks with further increases likely throughout the rest of the year.
This topic has dominated housing market news over the last couple of weeks, which may leave you wondering how this will impact you. In fact, rates have increased even further over the last week since the recording of this video to over 5% in many cases.
In this week’s At Home with Heather, I unpack what an increase in interest means for your mortgage payment and why I believe even with the increase in rates it still makes sense for you to buy now rather than waiting if you think a move is in your future.
I’m curious--do you think rates are going to impact the housing market or do you think we will continue on at this lightening pace?