How Rising Interest Rates Can Affect Buyers & Sellers

Home buyers and sellers have been on a wild ride over the past year thanks to incredibly low inventory, increased demand coupled with historically low interest rates, and intense bidding wars. According to  Holden Lewis, home and mortgage expert at NerdWallet, “mortgage rates snapped upward in January as mortgage investors realized what the Fed intends to do, which is raise interest rates aggressively this year.”

To give you a better idea of how rising interest rates could affect your plans to buy or sell this spring, we asked Premier Lender Lysa Catlin to share her thoughts in this video:

On the bright side, experts are also predicting we may see increased inventory, which could abate some of the bidding wars buyers have experienced in recent months. Additionally, home value growth is forecasted at 16.4 percent for the year, slightly lower than 19.6 percent in 2021.

Rest assured, our team is skilled at navigating challenging markets like this and we’ve always been able to leverage our collective industry knowledge to help clients find great properties around the eastside.

Whether you’re ready to jump in and start your home search while interest rates are still low or wait it out and see what happens, we’d love to talk to you about your options when the time is right for you.