RISING MORTGAGE RATES 

If you are wondering about buying a home, the word is out on the streets about the Fed's raising interest rates at least a few more times this year in 2022 in the months to come to help stabilize the housing market. Initially pate spike June then July and September. The word just hit the streets November and December 2022 they will now go up and not as sure about next year just yet. Be on the look out for this matter to bring more pain to businesses and household pain. This has a strong possibility to push us into a recession. This also happens when the growth halts the market economy decreases.

This may put you in the position to not afford the home of your dream unless you have lot's of money saved. This is either for huge down payment or to buy your interest rate down to quality. Many buyers are acting quickly due to the rate hike forecast or just merely waiting it out for at least two years or so. We need to be keen on how global uncertainty can impact mortgage rates which results in downward pressure on mortgage rates. The acronym  is FOMO means Fear Of Missing Out. Especially many investors and buyers included have waived inspection contingencies to lock into a home.

CLIMBING MORTGAGE RATES

With inflation and economic uncertainty, this creates volatile mortgage rate's that hits our country and buyers are doing what it takes to buy a home, renters are highly motivated due to the rising monthly rent cost that is through the roof. You truly need to be in position now to act on this current 2022 housing market. There is no end in sight since interest rates were all time low for two years into the pandemic. As rates stabilize, I believe more buyers will come back and purchase homes. See more on interest rates /INTEREST-RATES---32819---32836---Dr-Phillips-6-18314.html

BOTTOM LINE

This move depends on your finances so ensure to clean up and always follow your credit report, keep debt low, negotiate and remove all derogatory's from your credit report and save money. So if you are on the fence deciding to buy, you need to act right now so that the interest rate blows you out of the game for purchasing a home.

Mortgage rates are an important slice of the pie that will determine on how much your monthly mortgage payment will be.

Home buying is always a personal investment for the future and a stable well being of your family. If you have any questions please see your accountant or financial advisor to help you make a decision in your best interest. This is now your chance, visit your professional realtor for more inside on purchasing your home. The ongoing uncertainty concerning the country economic condition truly impacted a decrease in many loan applications.

Interest rates are evaluated by data using jobless claims, unemployment, inflation along with supply and demand. Mortgage rates are more affiliated to treasury yields and mortgage -backed securities than to the actual federal funds rate. 

Rental prices have nearly doubled, driving renter's to shift gears to purchase but not ready and caught off guard with bad credit and money saved.  Many have been caught in this trap. Trust your local home advisor Kevin Strawter at 850 496-6412 or email kevinstrawter@gmail.com to steer you in the right direction. Serving Dr Phillips and Central Florida. Click here to know more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html