How Buyers Can Take Advantage of Our Current Market
What's the number one reason somebody should be buying a home now as opposed to waiting?
Number one reason is this:
Lawrence Yun, chief economist for NAR at a recent conference said this. He said that it's totally within the realm of possibility that we'll see interest rates at eight and a half percent interest next year in 2023.
Why? We know the Fed has already announced they're gonna do another rate increase in November and another one after that, then they're gonna take a pause. So two more increases are coming and we're already at 7%, eight and a half, maybe a low estimate. So when, although we feel like the interest rate is high, it's not high relative to history. Remember the average interest rate over the last 50 years has been 8%. We're at 7%. So when we look at it from a historical standpoint, it's not as high as we perceive it.
We perceive it to be high because we're basing it on the 60 year low. We just live to...
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