Sellers will be reluctant to lower their prices just because rates went up, so what do higher rates mean for home buyers?
Let’s take a minute and a half and logically review the actual differences in payments when rates go higher:
What Do Higher Mortgage Rates Mean?
by Jim the Realtor | Apr 29, 2018 | Bubbleinfo TV, Interest Rates/Loan Limits, Thinking of Buying?, Tips, Advice & Links | 1 comment
It’s going to take something major to turn around a near 40 year downturn in mortgage rates. Trump may be that ‘something major’.
I really doubt 30-yr mortgage rates will hit 5%. If mortgage rates hit 5%, we may have hit a bottom. 5% mortgage rates could mean we’ve hit a ‘break-out’ and 6% is on the horizon. I’m betting otherwise.