Hello and welcome. This is Nolan Formalarie with Nolan’s News and DiscoverNChomes. As always, thank you for having us. Today I want to talk about rates again, and this is probably the second or third time this year I’ve talked about this but I’ve just read three articles on the internet that the FEDs might meet up to six times again this year to raise interest rates.
We’re sitting here and rates now I’ve seen anywhere from 4.5% to almost 5% or at 5%. So we have jumped tremendously just since the beginning of this year, back in January.
Just a little quick tidbit: we hadn’t seen a rate hike before – I believe it was March of this year – since 2018. I think they’ve met two or three times already and raised the rates, now up to another six times, what does this mean?
This means: as a buyer – if you are looking and you can find what you want, now is the time to buy. If we see these rates go up like they’ve been going up, we could see rates as high, I think, as 6.5% to maybe 7% by the end of the year. Maybe even more, who knows, depends on if we will get this inflation under control. But really means, again, buyers – if you have found it, now’s the time to buy! You are saving yourself money!
I don’t think the market, from from a sales perspective, is going to dip or, from a listing price perspective, dip too much. So you are now saving money if you buy now versus another few rate increases.
If you have questions, if you need lenders, please let us know. We’re always here for you. You guys know how to contact me. Thank you and talk to you soon.
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