National Market Update #2

These days’ mortgage rates have hit their peak, but how will it affect the market? It is tough to predict anything for sure when it comes to real estate, but we can get a good idea by viewing the expert’s opinion regarding the situation. Therefore, the leading real estate broker, Rich Barnes, discusses the impact of the increase in mortgage rate on the market. He understands the impact of the interest rate on purchase and sale decisions. The recent increase in interest rate has scared away the buyers. However, over the past two years, the number of agents entering the market has risen. These agents have not worked through markets with higher interest rates. Many homeowners purchased at a time of interest of over 12%. Here at Realty Experts, we have seen different phases of the real estate market, including the 2008 crash. Yet, with the assistance of reliable real estate agents, buyers can get their dream home. Thus if the increase in mortgage rate has been a concern for you,