#FHKEXPERIENCE #BANK #RATE #HOME #HOUSINGMARKET #TORONTOREALESTATE #MILTONREALESTATE
It’s been a rollercoaster over the past few years in the world of real estate. The lack of inventory and bidding wars had buyers competing against each other to secure a house while the rates were at an all-time low. Now, with rising interest rates, we’re seeing a return to a healthy balanced market with more inventory available, more days on the market, and less competition, as some buyers have decided to sit on the fence for the time being.
No crystal ball here, however, we can learn a lot from previous cycles in our housing market. Our advice to current buyers is to marry the house and date the rate. Yes, the interest rates are a reason for some pause, but don’t let that keep you from making a move into a home that you love!
If you’ve found the house of your dreams, don’t let it slip through your fingers. Committing to the house now doesn’t mean that you have to stay committed to the interest rate forever. Smart homeowners keep an eye on the interest rate trends and refinance to more favorable terms when the time is right. We have relationships with competent industry leaders that can educate you in making an informed decision.
If you’re thinking about buying or selling, give us a call. We will be happy to help you fall in love with the right home.
Written by:
Tanya Fernandes
Owner | Broker
