Oh! Oh! Interest rates have gone up!What does this mean?A small bump in interest rates should'nt have much effect on our Real Estate Market.For buyers, they now have to set there sights on a bit
"POP" GOES THE INTEREST RATE!
Dated: March 3 2022
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Oh! Oh! Interest rates have gone up!
What does this mean?
A small bump in interest rates should'nt have much effect on our Real Estate Market.
For buyers, they now have to set there sights on a bit less house.
For sellers, expect a rise in activity, as pre approved buyers rush to buy, before their saved rate on their pre approval expires.
Keep an eye on the trend, continued interest rate hikes will have a serious impact on house prices.
Do you know what the highest interest rate was for a 5 year fixed term mortgage in Canadian History?
Tune into our next post to find out!
Kerry Stevenson
Kerry has been an award-winning top agent with Royal LePage since 1980. He uses his creative, innovative, and technical skills to lead the curve when helping others buy and sell homes. His years of ex....
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