Why Higher Rates Shouldn’t Stop You From Buying a Home

How homebuyers can take advantage of our higher rate environment. 

Conventional wisdom says that the best time to buy a home is when interest rates are low. However, did you know there are advantages to buying when rates are high? Here are a few reasons why you shouldn’t let higher mortgage rates delay your home-buying plans.

First, high rates mean less competition. You won’t have to worry about the frenzy of bidding wars, and sellers may be more willing to negotiate and give you good concessions. For example, it will be easier to purchase with a home-sale contingency in our current market since there are fewer buyers for sellers to choose from.

Plus, you can always refinance later if rates fall. This gives you the best of both worlds: You can lock in a lower price today and refinance to a lower rate later.

If you have questions about buying a home in today’s market, please call or email us. We are always willing to help!

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