It is expected that the housing market will stall out which means interest rates are very likely to climb.
If you compare the rates already, you will see that the interest rates have not gone up this fast since 1994.
If you are looking to buy a house this year, you are going to be in a tough spot. You wait and the prices of houses will likely come down but the interest rates are going to keep going up. Some are saying for perfect credit - we may be looking at a 7% interest rate by the end of the year. It is already over 5% in my area.
If you compare the rates already, you will see that the interest rates have not gone up this fast since 1994.
If you are looking to buy a house this year, you are going to be in a tough spot. You wait and the prices of houses will likely come down but the interest rates are going to keep going up. Some are saying for perfect credit - we may be looking at a 7% interest rate by the end of the year. It is already over 5% in my area.