What can you expect from interest rates this year? Our preferred lender is here to discuss the topic.
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We’re joined today by my preferred lender, Tripper Heckscher of Prosperity Home Mortgage, to talk about one of the most popular topics in real estate: interest rates.
Interest rates have been abnormally low for quite some time, but this is not typical. With a strong economy, you usually see interest rates going up instead of down. When they do go up, home values go up as well.
There’s been a lot of panic lately in the market about low rates, but Tripper isn’t sure why. The way he sees it, it’s a smart move to buy a home no matter where rates are at. When rates are as low as they are right now, however, real estate is one of the best long-term investments out there.
Nobody has a crystal ball that will tell us whether rates are going to continue to go up, but any increase we see should be minimal and gradual. We won’t see a 5% jump all of a sudden. If rates rose that fast, it would be catastrophic.
If you have any questions for us about the real estate market, interest rates, or anything else, give us a call or send us an email. We would love to hear from you.