Interest Rates as a factor for Home Buyers & Investors

One of the main factors holding back potential buyers and investors are interest rates. We saw a dip in interest rates a few years ago. Many homeowners refinanced their homes to secure the lower rates. My wife and I refinanced our home and secured a 2.99 interest rate lowering our monthly payment and even changing our home loan from a 30-year to a 15-year note.

Home inventory is more important than interest rates. If you find a property that checks all the boxes and is your ideal home, put an offer in. While buying at a higher interest rate may seem like a bad financial move, it’s important to remember that you can always refinance when the rates go down. Interest rates go up and down but letting your dream home escape you because of higher interest rates can be heartbreaking.

If you’re thinking about buying a property, whether as a primary residence or an investment property, give us a call. You can rely on our expertise to help you throughout your home buying adventure.