Why Waiting To Buy Is a Mistake: Lower Prices vs. Rising Rates
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With rising interest rates, the pundits are calling for the prices to come down. With a downward adjustment in prices, will it offset the rise in interest rates to keep equilibrium of the current market that we see today?
No, the net effect is that payments for the same property that has decreased $100,000 in price will still go up, based on the average sales price here. While prices adjust down, they won't adjust down far enough to offset the rising rates. So the sideline buyers who wait are waiting for their payments to go higher, and be incrementally priced out of property that they may otherwise afford.
For more information, download the flyer, or visit our affiliate lender website: OCLoanTeam.com
No, the net effect is that payments for the same property that has decreased $100,000 in price will still go up, based on the average sales price here. While prices adjust down, they won't adjust down far enough to offset the rising rates. So the sideline buyers who wait are waiting for their payments to go higher, and be incrementally priced out of property that they may otherwise afford.
For more information, download the flyer, or visit our affiliate lender website: OCLoanTeam.com
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