Justin Sorsabal of Dignified Home Loans and Megan Bohannan of Bohannan Homes (RE/MAX All Pro)
“So the big question, where do you see interest rates in the next 12 months?
Well, I don’t have a crystal ball…
Give us one, Justin! We want to know!
However, we have seen the interest rates go up a little since the presidential election. There is so much uncertainty in the market that it is really tough to say if the market is going to go up or if the market is going to go down in terms of interest rates. However, like I said, since the presidential election, we have seen interest rates go up a little bit. If we are going to follow trend and go off the last two, three months I would say that interest rates are probably going to go up a little bit. So, with any of those buyers on the fence, whether they be first time home buyers, move-up buyers, investment buyers.
Stop waiting. Because we would hate for them to get priced out of the market in the case that interest rates do go up.
I tell my clients the same thing. I feel like right now, they ask me about home prices. And I can’t predict exactly if they are going to keep going up. But, with the trend, it seems like they’re going up a little bit at a time. You know, after we run comparables, but stop waiting. Because interest rates and prices, I think now is the time.
And with prices going up slowly, but surely, the appreciation position and interest rates going up slowly. I think now is a great time to get in. And not lose out on that option or possibility buying a home.
I see that, I mean our phones are ringing right now. So, I can’t wait to help all the buyers we have in line.”