Will Rising Interest Rates Cause My Home Price to Fall in Value?
Save 2% When You Buy a Home: https://www.hauseit.com/buyer-closing-credit/
In this video, we'll discuss the effect of rising interest rates on your home's value, and selling price if you're thinking about putting your home up for sale.
We'll discuss how interest rates affect different segments of the housing market with different rates of affect. For example, the starter home market is much more affected by increases in mortgage interest rates because for first time buyers, the monthly payment math is often times all that matters.
In contrast, second home buyers or buyers who are trading up will not be as affected by rising interest rates. That's because no only will some significant percentage of them be purchasing all cash, but the LTVs being utilized by the remainder are often lower than that of first time buyers. This is more so the case for luxury home buyers vs starter home buyers, as typically only conforming loan sizes are eligible for smaller downpayments less than 10%.
We also talk about other structural considerations, such as major demographic trends and the rise of the millennial generation as a major factor in the real estate market as they start to form households. We also talk about the structural shortage of housing in the US, and how housing starts lagged demand for many years after the Great Financial Crisis of 2007-2008, leading to the great inventory shortage we are seeing today.
Which factors will weigh in more, and tilt the balance? Watch our video to learn more! Please leave a comment if you have any questions, or have anything you wish to add to the discussion.
Save 6% When You Sell a Home: https://www.hauseit.com/agent-assisted-fsbo/
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Hauseit Group LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
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