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Apple PodcastsSpotifyStitcherGoogle PodcastsAmazon Music

Ep 16: What to Consider in This New Higher Rate Market

Interest rates are rising and it seems likely that they will continue to do so. Historically, rates are still not bad. But a jump from 2.5% to 6% is a big jump and it’s changing the housing market and the trends we are seeing.

With inflation still very high, we should expect to see these higher rates for a while. So, what are some of the things you need to really consider in this higher rate market?

If you have questions about the mortgage process of buying a home or the ins and outs of refinancing, take advantage of our complimentary 15 minute mortgage consultation.

 

TIMESTAMPS:

0:44 – What are we seeing in the market?

2:32 – Are rates the major concern?

3:33 – Will the market volatility stabilize?

4:23 – The affordability of houses

6:25 – Refinance opportunities in the future

8:32 – Considering closing costs

10:05 – Adjusting the downpayment

12:02 – Buying a house is still a good investment

 

QUOTABLE MORTGAGE MOMENT: 

There’s no guarantee that we’ll get a lower rate. But there’s a very high probability that rates will get better, it’s cyclical and the cycle of lower rates is very likely a little bit ahead of us.”

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