For the past few year or so rates have been at historic
lows. Many buyers and homeowners looking to refinance locked in rates pretty
close to 4%.
Now, slowly the rates are climbing are hovering around 5%
and experts say they will still keep creeping up. It had to happen and we the
real estate business, have been warning that this was going to happen.
It’s still a great time to buy and sell. Yes with higher
rates buyers price ranges are affected a little but 5% is a still a great rate.
In 1992 when I purchase my home I paid 8%. As the rates came down I
re-financed.
Just because rates are high doesn’t mean buyers should stop
buying or sellers should stop selling. Buy now and refinance later. Waiting is
always risky for both home sellers and buyers. If buyers wait home prices could
go up and they could end up purchasing "less” home for more money. Seller can
be hurt too. The best time to buy and sell is when you are ready to do so.
Sometimes we don’t know we had a great market until it’s over.
To see if you can afford to buy a home, visit www.homebuyergo.com
Tags:
Rates , Waltham , Real Estate , Market , Buying , Selling
Kenneth Brown
