Interest rates! 😱😱😱
They’ve been in the news a lot lately.
And there’s a lot of fear of buying with a high interest rate.
I wanted to show you a graph of interest rates over time.
Look how rates were up to 18% in the 1980s!
Now I’m not an economist, but interest rates are cyclical, just like the economy and the housing market.
What I do know is that we are seeing a lot more price drops lately ⬇️⬇️⬇️
And with rates increasing, our buyers are looking at lower purchase prices than we were seeing a year ago.
So if you are feeling discouraged about buying, it’s not too late.
It’s nice to be able to lock in a lower purchase price if possible during this economy and eventually you can refinance whenever rates go down again!
If you have questions about buying in this scary market, give me a call! 👻👻👻
Sammy Lyon
REALTOR®️
DRE #02113227
www.buyahouseinLA.com
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Dow Capital
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