Do not panic! Since June 2022 with the initial spike in the interest rate, the this has hampered the demand to purchase a home for many home-buyers. Many fell scared and disappointed and fell out of the race to purchase a home. Do not panic! So many dynamics put a twist on home buyer-and sellers to make sales transactions.
This has created a toxic atmosphere of FOMO, which is known as fear of missing out. Many motivated buyers are rushing to purchase before the rates go even higher that will price them out of the market, on the other hand sellers are listing their homes in fear of rake hike will affect the timely sale of their home. As the interest rate goes up so does your monthly mortgage payment. There is definitely a lot of pressure to make a financial decision of importance. If you are serious, get off the fence and seek more professional advice. You have many sellers and buyers that are confused and not fully educated and unsure on what to do.
One thing that can put buyers at ease is to show them the historical trend of interest rates on a 30 year fixed mortgage. So basically, it will cost you more to wait and even rentals have sky rocketed. If you are interested in one of my free e-books click here https://kevinstrawter.book.live/buyer-book
Click link to see more about buying versus renting /BUYING-VERSUS-RENTING---32819---32836---Dr-Phillips-6-18852.html
Many lenders are being creative and competing with others and operating within the lending guidelines for potential buyers for their business. With higher interest rates on the horizon I don't see any reason to hold off. This decision will put you in the driver seat and financially secure monthly principle and interest payment. Of course taxes and homeowners insurance will slightly increase. Even small increases in your interest rates can impact your monthly mortgage payment purchase power. Click link to educate you on the cost of waiting /THE-COST-OF-WAITING---32819---32836---Orlando-Florida-6-22532.html
Seek a trusted advisor and professional realtor in the Central Florida area that can educate and guide your footsteps in Dr Phillips located near the Disney Theme Park area. Stay connected and contact Kevin Strawter today at 850 496-6412. Click link to get to know more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html?