THE RISING RATE ECONOMY IN AN ALREADY HOT HOUSING MARKET By Daniel Herrera
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nterest rates have steadily gone up since the end of 2021. With the current lack of control on America’s inflation, The United States Federal Reserve Bank (FED) has recently increased rates by half a point, the second consecutive rate increase and biggest rise in borrowing cost since 2000. Current economist forecasting predicts that rates will continue to increase and eventually stabilize; but when will that happen? The continual increase in the cost of money has substantially decreased the consumers ability to
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purchase in an already hot real estate market. The burning question every buyer has is: When is the BEST time to buy a home? The Simple answer is: YESTERDAY. Unfortunately, no one has full capacity to predict the uncertainty and volatility of the Housing Market and throw in the government’s fiscal policy along with the FED’s decision making, its impossible to determine the right moment. What a buyer can control is their capacity to purchase.
