How Higher Fed Rates May Affect Finances
Record-low mortgages below 3% are gone; credit card rates will likely rise along with the cost of an auto loan. Savings accounts might earn a little more.
Record-low mortgages below 3% are gone; credit card rates will likely rise along with the cost of an auto loan. Savings accounts might earn a little more.
Experts offer mixed views. Some say moderately priced-home sales won’t slow yet due to low inventory; others expect impacts from stocks to the housing market.
Freddie Mac: Up from 5.1% last week, it’s the highest since 2009. The average 15-year mortgage rate is now 4.52%, up from 4.4%.
CoreLogic: A record high, the annual growth was the largest in the 45-year history of the home price index. Fla. had the highest state home price gain, 31.4%.
Lending Tree survey: 75% say they dislike at least one of their neighbors, either due to noise, rudeness, problem pets, messy yards or ‘weird vibes.’
The Fla. Housing Finance Corp. saw its volume jump in 2021; activity was so brisk that it stayed open 24/7 and increased its housing assistance amounts.
How? Agents can walk their farm area, knocking on doors and introducing themselves in a safe, organized way. Community outreach and Facebook farming work too.
Realtor.com: The combo of higher rates and home prices has made monthly payments quickly climb. That impact is adding an extra $580 to buyers’ monthly expenses.
RE Q&A: Like going into business together, buying a house together works best with a written agreement so all understand risks, rights and responsibilities.
NAR: Fair housing for all and addressing inventory, supply and affordability issues are Realtor priorities this week at the 2022 Legislative Meetings.