On November 2nd, the Federal Reserve Board raised the benchmark interest rate by .75 basis points. However, mortgage interest rates lowered on November 10th when lower-than-expected inflation numbers were released. One of the overarching sentiments gaining momentum from industry professionals right now is what happens if mortgage rates reverse course in the Spring when Buyer demand historically peaks each year?

Better yet, what happens if the Buyers who exited the marketplace beginning last June rush back into the market this Spring, tired of putting their life on hold? 

The law of supply and demand means competition will increase thus Buyers will have a more difficult time buying their dream home.  

If you are a Buyer, are you willing to roll the dice and wait?  

If you are a Seller, who will become a Buyer next, are you willing to wait for competition?   

It is better to sell low and buy low than sell high and buy high. It is even worse to sell low and buy high. 

Regardless of what direction the real estate market trends, we are here to advise and ensure you make the best possible decision! 

Dana & Team