How Interest Rates Affect Mortgage | Real Estate Tips

How will the rise in interest rates affect your home's value?

If you're thinking of buying a home, you're probably wondering how the recent rise in interest rates will affect your home's value.

In today's video, I'm going to break down how interest rates affect your home's value and what you need to know to get the best deal on your home.

As you probably know, interest rates are on the rise and are projected to continue throughout 2022. This might make you concerned about whether now is the right time to buy a home or not.

But, there's no need to worry! The rise in interest rates will not have a significant impact on your home's value. In fact, homes are still very affordable, and values are projected to continue to rise.

There are a few things that you need to know about how interest rates affect your home's value.

When interest rise, so do mortgage rates.

This means that your monthly mortgage payment will also rise.

But, don't let this deter you from buying a home! Even with the rise in interest rates and monthly payments, the price of the home goes down. Because Buyers don't want to pay the higher monthly payments, they will offer less for the home. So, when interest rates go up, the prices of homes actually go down!

Can you still get thousands of dollars over the asking price? The window of opportunity is closing for homeowners, so if you're looking to sell, you should do it sooner than later.

So there you have it! The rise in interest rates won't have a significant impact on your home's value. In fact, homes are still very affordable and values are projected to continue to rise.

If you're thinking of buying a home, now is a great time to do it! And, if you're looking to sell, you should do it sooner than later.

If you have any questions about how interest rates affect your home's value or about the real estate market in general, please don't hesitate to reach out to us. At Best Sac Homes Group, we understand the importance of getting the best mortgage and real estate advice. We've been in business for over 25 years and have helped thousands of people buy their dream homes.

Thank you for watching and we'll see you next time!