Some of our thoughts have changed in the wake of the Brexit vote. Rates are still going to rise eventually. However, with the new international upheaval, there is now a very strong possibility the Fed will not raise rates any time soon. What does this mean for your buying power? Well, with historically low interest rates, it’s a darn good time to be a buyer!
We’re expecting the Fed to increase mortgage interest rates here in the month of July. What does that mean to the real estate market?
Last time they increased it a few months ago, it didn’t really affect interest rates for real estate. We’re still hovering around 3.6% to 4%. We expect it this time, however, to impact them slightly. My prediction? 3.8% to 4.25%. If that will impact your buying ability, the time to buy might be now.
If you have any questions, give me a call or send me an email. I look forward to working with you soon.