Dan Hamilton’s current video highlights the real estate market’s progression this past Summer 2013. A quick summary of his video is posted below, but to gather all of the details make sure to watch!
Question: How do you think the rising interest rates will affect our market?
- The current market is more robust in terms of the decrease in home inventory and increase in people now looking for homes.
- Interest rates are rising significantly and this past summer included one of the largest week-long interest rate hikes in over 20 years.
- There are many changes in home affordability as a result of the increased rates, and in some cases this is reducing people’s buying power.
- Keep in mind! Lock your rates in now before they have a chance to increase.