Interest rates are rising like crazy. We all knew it was coming, but what does it mean for the real estate market and your ability to buy or sell a home?
Hi, I'm Stephanie Martenzi, Super Mom, Super Agent with Southland Properties, and I will help you sort through all the uncertainties in this market, and give you facts so you can make an informed decision about your home.
Rates are expected to keep rising as we continue through the year. We started 2022 with mortgage rates at about 3.11% for a 30 year fixed low. And this was according to Fred Mac. And as the year has gone on, the most recent data from Freddie Mac shows that rates are slowly climbing.
Freddie Mac actually addresses this rise in rates by stating that mortgage rates are likely to continue to move higher throughout the balance of 2022. Although the pace of rate increases is likely to moderate, much of the increase in rates in early 2022 is in anticipation of what will happen after this year, especially with the Federal Reserve Interest Rate policy.
All the experts have been projecting this. We all knew this was coming, but we are hopeful that the upward climb of interest rates will be slowing down as the year goes on. But the biggest question, will the real estate market be slowing down. The short answer is no, there is no data out there that supports a slowdown in the market.
Altos Research says we keep watching for it, but there's absolutely no signs of market slow down anywhere in the data. If anything, we're seeing that the market continues to heat up and according to the National Association of Realtors, most states are seeing a strong buyer's market, even with the recent interest rate hikes. The buyers are not slowing down.
This is Stephanie Martenzi, Super Mom, Super Agent with Southline Properties, here to help you have a fun, empowered and informed real estate experience by guiding you every step of the way. If you see me out in the community, make sure to say hi.
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