This strategy can help you buy your dream home despite increasing rates.
One of the hottest questions in real estate right now is: What’s going on with interest rates? Today I’ll share my thoughts about this topic to help with your buying and selling goals.
First, know that rates are still historically low. There have been times in the past when rates reached 18%. Secondly, we have to look at the three key numbers: unemployment, GDP, and inflation. Inflation is out of whack right now and is around 6% to 8%. We want it to be at 2%, but to get to this point, the Fed is increasing interest rates, and they will likely continue to rise.
If you want to push forward with your real estate plans despite increasing rates, one great method is to use a seller buydown, where a seller credits the buyer some money that they can use to buy down their interest rate and reduce their payment. It’s a very creative strategy that I have good experience with.
I can advise you on this throughout your transaction. If you need more information about how you can proceed with your purchasing or selling plans with our current interest rates, call or email me. I am always willing to help!