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| 05/10/2022 |
Why interest rates have increased dramatically and will continue to climb.
Interest rates have risen considerably in the last few months. As of this blog post, they’re in the low 5% range for 30-year mortgages. They’ve gone up quite a bit, and we don’t expect them to go down.
The Federal Reserve has stated that they will roll back everything they were doing to keep rates low. They were buying mortgage-backed securities and other assets that helped keep rates down, but those purchases are being reduced significantly.
The goal is to suppress some of the demand and increase the inventory. They want to make our market more balanced. If you’re a buyer in today’s market, my advice would be to lock in the interest rate we have right now. It looks like they will only be going up from here.
If you have any questions, feel free to call my team at (770) 634-9710. I promise you’ll be happy you did.
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Northeast Georgia Board of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than CENTURY 21 Results may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2022 All rights reserved.