Buying a San Diego home? Search all homes for sale
When I started my real estate career, interest rates were at 14%! Interestingly enough, this was considered low and buyers praised this rate.
Conversely, in today’s market, rates are about 4%. Clients complain if the rates increase over 4%, even if it’s only a quarter of a point! It’s amazing how the tables have turned in thirty years.
Now, the question of the hour: are interest rates going up or not? The Fed often say rates will increase in about three to nine months. It depends really on the economy, and when it picks up. The economy has been fueled by the low rates, but it will pick up soon enough. Once it does, the Fed will raise rates. This makes it more difficult for buyers later when the rates do eventually increase.
Don’t wait if you’re buying or refinancing. That’s the bottom line, right there. It’s unlikely rates will decrease. Even if they do, you can always refinance at that point. No one can predict exactly when rates increase.
Act today and score your dream home in San Diego. Browse local listings. Take advantage of low rates while they are still low! You won’t be
disappointed.
If you have any questions, we’d be happy to answer them. Reach out to us today!
