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For the first time in nine years, the Federal Reserve announced that they are going to increase interest rates. This can have an adverse effect on buyers as interest rates directly impact affordability.
Basically, when interest rates go up, affordability goes down, which costs you more money when buying a home.
Currently, experts predict that a 0.75% rate increase over the next 12 months is possible. If you're on the fence about buying, you should meet with a lender today.
We can put you in touch with one of our great lenders and get you started with a home buying strategy. If you have any questions, give us a call or send us an email. We look forward to hearing from you!
