Last year in December 2021 fed announced that there’s going to be increases on in interest rates. We’ve already seen that happening this year once and we’re anticipating to see two more increases throughout the year. That is going to happen gradually whether that’s going to happen or not. For sure. We don’t know, of course. But how does this increase on mortgage interest rate is going to affect the, the value of your home as a seller if you are selling your house? First of all make sure you put your house on the market sooner than later. because as the uh interest rates increases, let’s say by 1% the buyers affordability drops by 10%.
So that’s pretty significant. So you are going to have less number of offers on your home possibly. There’s, the market is still very strong, there’s tons of buyers out there. There’s not enough inventory, but you may not be getting as many as offer as you were getting a month ago.
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379