Interest Rates | Mother's Day | Tacos

Happy May 2022!

First, wishing all the moms a Happy Mother's Day weekend. 😊💐

Interest rates are the current hot topic. The rate increases have been a catalyst for buyers to pull the trigger on buying now, while others have pumped the breaks. It is important to keep in mind that everyone's situation is different. What a friend or neighbor has decided to do, does not necessarily mean it is the right move for YOU. There is definitely a feeling of change in the market. We are confident home values will start to stabilize and buyers will have more options.

Current market trends:

• Still a strong seller and landlord market

• Inventory is increasing

• Escrow cancellations have increased

• Buyers are starting to get more inspection repairs and/or credits along with sellers agreeing to lower purchase price if appraisals are coming in low.

• Historically, interest rates are still low (see chart below)

Great visual to show the history of interest rates.

Not sure what to do? Try and keep it simple, if you are comfortable with the payment and the home suits your needs, GO FOR IT. If interest rates decrease, you have the option to refinance, if they increase, then you will thank yourself for making the decision to move forward with your new home.  

If you are curious about any of this information or want to chat about your situation, please feel free to reply to this email or call me directly. 

Quote of the Month

"If you are positive, you’ll see opportunities instead of obstacles"

- Widad Akrawi -