Interest rates are still at an all-time low, but they won’t stay that way. Whether you’re buying or selling, you need to act now to take advantage of them.
Over the last several years, interest rates have remained at an all-time low.
If I had a billion dollars to bet, though, I would put that money on interest rates rising sometime in the future. The reason I say that is the fact that they’ve been artificially kept at the level they’re at and have stayed that way for so long. When will this rise happen, exactly? Nobody really knows.
There are other global economic factors at play here as well. You know about Brexit, but there is also the matter of the IMF replacing the U.S. dollar with the Chinese Yuan as the world’s reserve currency.
What does this all mean?
If you’re in the market to buy a home, now is a great time to do so. For the moment, you can still lock in these all-time low interest rates. If you’re in the market to sell, you’re in the same situation. This is because higher interest rates lower home values, and their inevitable increase will shake up the market.
If you have any questions about what’s going on in the real estate market, feel free to give me a call or shoot me an email. I’d be happy to talk with you!