LOWER INTEREST RATES OR LESS COMPETITION?

If you’re thinking about making a move, you might be weighing the pros and cons of our current market conditions. Should you wait for interest rates to drop (whenever that may be), or should you buy now?

While it’s true that lower interest rates make it cheaper to borrow money, interest rates are just one factor that determines affordability.

Let’s break it down.

→ Low rates lead to more demand and, therefore, more competition, resulting in higher prices, waived contingencies, and more.

→ On the other hand, higher rates *usually* mean less competition, which typically allows for more negotiation flexibility for buyers.

If you’re serious about buying — message me! A good real estate agent can help you find a home that fits your budget and needs, regardless of what rates are doing.