The impact of inflation on mortgage rates has caused an upward pressure on mortgage interest rates that affects buyers and sellers. The order of this move by the Fed's goal is to tame inflation and cool the housing market after the pandemic of 2020. This has worked to a degree. However one extreme point you need to know, the inflation rate reports higher than 2% and this played a vital point in the decision to raise the rate for the 10th time the first week in May 2023 since June 22nd. Click link to learn more https://www.bankrate.com/real-estate/how-fed-rate-hike-affects-housing/
During this whole process right after the pandemic, inflation and mortgage interest rates will always continue with the impact of inflation on mortgage rates. As interest rates doubled over many wonder what more can happen. My personal opinion is that we are at the highest level when we reached 7%. Click link to learn more fro the National Association of Realtors https://www.usatoday.com/story/money/2023/05/03/will-mortgage-rates-rise-with-fed-rate-hike/70174099007/
Mortgage interest rates will likely regress after June 2023 as the consumer price inflation calms down. Expecting the rates to calm over the next six months as the economy expects to slow down. Experts are expecting to trend down with the upward pressure from interest rates. Contact your trusted advisor.
As a trusted advisor, professional realtor and military veteran I am here to serve you and on the pulse of the housing market in the Dr Phillips and Central Florida area. Always stay in tuned, educated and connected in this volatile housing market to purchase or for the sale of your home. In the absence of trustworthy up to date information whether it's a housing crisis or local housing market, real estate decisions are driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community gate always preaching the gospel of real estate. I emphasize that education is a must for the community to ensure you are making sure you make right decision. Don't let this shifting housing market delay your dreams, data reveals home values typically appreciate over time and that gives your net worth a nice boost. When you are getting help with your home, look for your realtor with the heart of a teacher. If you are ready to start your journey, contact me today at 850 496-6412 to help begin a new walk to homeownership and all your real estate needs.