As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune.
Here’s a look at what experts say you can expect this spring.
Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up over the next 90 days. As Freddie Mac says:
“The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of the year.”
If you’re a first-time buyer or a seller thinking of moving to a home that better fits your needs, realize that waiting will likely mean you’ll pay a higher mortgage rate on your purchase. And that higher rate drives up your monthly payment and can really add up over the life of your loan.
Subscribe to our email list and learn more about Pre-Approvals, Pre-Qualifications, Interest Rates, and more.
Unsubscribe anytime.
Home As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While
Home If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today
Home Mortgage How Supply and Demand Can Impact Your Buying and Selling Goals How Supply and Demand Can Impact Your Buying and Selling Goals In
Home While some homeowners may be tempted to hold off until spring to list their houses, you should know – homebuyers aren’t waiting. Demand is high
I’m Tiffany and I want to be your mortgage advisor. I’ll help strategize the financing of your home by compiling and sharing the best loan for your situation. Whether you’re buying a first home or refinancing an existing one, we’ll make sure to go over all of your options so that you can confidently choose what’s right for you. Along with the best rates for your future goals and helpful advice, my intent is for this process to be as stress-free as possible so that it feels like shopping around at any other store.
© 2022 Mortgage With Tiffany All rights reserved. Disclaimer Policy
NMLS# 1748307
DRE# 02202951
Broker NMLS# 1849451
Design by BRANDED IAM
1 comment
Good to know.