I read an article in the Florida Today this week that proclaimed the “Shot at super low mortgage rates over.” Actually, the article used the term absurdly low.
The bottom line:
- Interest rates on 30 year mortgages have risen above 5% for the first time since April 2010.
- Analysts expect rates to rise to 5.5% through the end of this year.
As a seller, would you not be better off pricing competitively in a declining market with rising interest rates? As interest rates rise, your buyer prospect pool shrinks..a little at a time.