How Are Rising Interest Rates Shaping Our Market1

How Are Rising Interest Rates Shaping Our Market1

In case you haven’t heard, the Federal Reserve increased interest rates last December and are planning an aggressive approach in 2017. Since the election, rates have risen in total by about 0.75%, and we can expect them to rise further by full percentage point by mid-summer.

What does that mean for you as a buyer or seller?

If you’re a buyer, the same home that you could’ve purchased last year will now cost you more. The monthly payment for a $500,000 house, for example, will now cost $200 to $300 more. If you’re a seller, your buyer pool is shrinking because not as many homes are affordable to them anymore.

The good news is that we still have historically low inventory and interest rates. There are also still plenty buyers out there looking to buy. We know this because, despite this uptick in rates, we still get a lot of inquiries. Buyers even have a bit more wiggle room to negotiate than they would have in the past because there aren’t as many multiple offer situations happening.

If you’re planning on buying, do it now while you have a much better chance to lock in a low rate. If you’re a seller, you should also act now before your buyer pool shrinks even further thanks to those rising rates.  

If you have any questions or are interested in buying or selling soon, feel free to pick up the phone and give me a call. I look forward to helping you!

Dave Friedman Voted Best Realtor in Charleston Headshot
Phone: 843-480-9737
Dated: January 18th 2017
Views: 1,028
About Dave Friedman: Voted Best Realtor in Charleston and top finalist every year since 2013, it is easy to say that Dave...

Property Search

RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Which Home Renovations Get The Best Returns - There are many great Charleston
Introducing A Tool That Will Make 2017 Your Best Year Yet - Today I have a tool that I want to
How Are Rising Interest Rates Shaping Our Market1 - In case you haven’t heard, the
What You Should Know About Flood Insurance - There are many great Charleston

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Dave Friedman Team
496 Bramson Ct Suite 200
Mt Pleasant, SC