Austin Diaries

SHOULD I WAIT FOR INTEREST RATES TO COME BACK DOWN?

As we talked about last time, interest rates have gone up a bit. So what does that mean for the buyer? Should you wait? Well, since rates are predicted to continue to go up, the answer is no, you should not wait. As this article points out, yes, the record low rates are gone, for now at least. Who knows what the future will hold. Most economist are saying that the next five years will see an increase in rates. So certainly waiting is only going to make your house more expensive. Sure, you could wait for the rates lower than 4% to come back. But you may be waiting a long time. The odds point to us getting back to 6-8% in the next few years, long, long before we get back to the sub 4% rates again. So, don't let a small jump in rates now scare you off now. We are about to climb a mountain, and it is better to start in the foothills than the peak!

Mortgage Rates Went Up Again.... Should I Wait To Buy?

Fank Minogue, J.D., LL.M.

(512) 629-0585

fminogue@twc.com

Berkshire Hathaway
HomeServices Texas Realty

Berkshire Hathaway HomeServices Texas Realty

  512-483-6000

Administrative Headquarters

3303 Northland #100
Austin, TX, 78731

  512-483-6041
  Contact Us

Texas Real Estate Commission Information About Brokerage Services

Texas Real Estate Commission Consumer Protection Notice

© Berkshire Hathaway HomeServices Texas Realty