The Higher The Mortgage Interest Rates, The More Perfect A House Must Be For A Buyer |
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This is a totally made up graph. I don't know how I would actually measure "how perfect a house must be" to a buyer. But I will point out that... 1. When mortgage interest rates were super low, there were so many buyers competing over every new listing that home buyers were willing to compromise - often a lot - in how perfect a house had to be for them. They just wanted to secure a contract on a house. 2. Now, with mortgage interest rates a good bit higher (double) and with mortgage payments quite high as a result, buyers seem to have much more of a desire for a house to fit them well. If they're going to pay *that much* on a monthly housing payment, the house better fit them pretty well! | |
Scott Rogers
Funkhouser Real
Estate Group
540-578-0102
scott@funkhousergroup.com
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