The Hard Truth About Interest Rates in 2024

We've all heard the saying "history repeats itself."

A few years ago, interest rates hovered around 2 and 3%. Slowly, rates increased

... 6%

... then 7%

... and beyond!

We hear the same sentiment repeatedly from those looking to buy or sell...

"I'm just going to wait for interest rates to go back down."

We're committed to sharing the facts with complete honesty and transparency. The cold hard truth is that the days of 2 and 3% interest rates are over—they're never coming back.

So, where does that leave our community, and at what point should you dive into the housing market?

🔵 Let's take a look back at 1972 when interest rates were around 7%.

Imagine you decided to wait for these rates to drop before buying a home. As a result, you wouldn't have purchased a home until 1993.

That's 21 years of waiting and renting. During that time, home prices went up almost 5 TIMES!

By choosing to wait, you missed out on the chance to increase your investment by five times. All the home value you could have gained went to the homeowner from whom you were renting. It didn't build your wealth.

🔵 Here's some good news... interest rates are currently declining.

They're unlikely to drop as low as 2 or 3% again—that's not realistic in today's market.

However, they are gradually decreasing. Our advice is to make the most of the current rates and home prices.

Our team has strong connections with top mortgage lenders. They provide a range of options to help our clients in the industry.

We're committed to supporting you from the start of your homebuying or selling journey to the closing table and beyond.

We'd love the opportunity to have a conversation with you to see whether now is a good time for you to buy or sell.

Let us help you start making your plan. Find out what a buyer today would pay for your home. Click HERE or call us today at 573-451-2020.

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