Rising Interest Rates

A lot of people don't realize the impact an interest rate can have on their payment... for example, on a $100,000 loan, the difference between a 4.5% rate and a 5.5% rate could be $100 a month! So, with economists forecasting that rates will rise after April 30, it is extremely prudent for a lot of folks to put on their home finding hats NOW, get a home under contract, and lock their rates. I have heard some buyers say "well, after April 30 there won't be as much demand, so sellers will have to reduce their prices...". While this may be true in some cases, those rising interest rates may more than make up for any price cut done by aggressive sellers. So, why not take advantage of the low rates AND the tax credit and find something now? As always, I am here to help!