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<i>Interest rates recently went up. What does that mean for buyers? Will they continue to rise? I’ll go over everything you need to know today. </i></div>
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Recently, interest rates went up. What does that mean for you? <br />
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<b>Rising interest rates are not a bad thing; in fact, they indicate that the economy is improving. </b>Ultimately, it’s still a good time to buy a home because you won’t have to pay the 9% interest rates of the past. Depending on your credit score, you might not have to pay more than a 5% interest rate. <br />
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However, we recommend locking in a low interest rate on a 15-year or 30-year mortgage now, as interest rates should continue to rise. <br />
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Interest rates will continue to rise, so now is a great time to buy.
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With the new year, our market will have a lot of activity. However, inventory is still low, so make sure you get pre-qualified now. That way, when your dream home comes on the market, you will be able to make an offer right away.<b> Getting pre-qualified also gives you an advantage in this market,</b> as we are still seeing multiple offers due to low inventory. <br />
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If you have any other questions about interest rates or our current real estate market, just give me a call or send me an email. I would be happy to help you!