Raising the Interest Rate
As you may have heard, the Fed raised the interest rate a few weeks ago by a half of percent. While that may not seem like a lot, it marks the first time since 2006 they have done this which means we have seen the bottom in terms of rates with lenders. If there was ever a signal about now being the time to buy, it was raising rates.
Interest rate hikes can mean thousands of dollars added to your loan amount each year, meaning you are paying a lot more for home tomorrow than today.