Oh, let me tell you about the rollercoaster ride in the interest rate market this month! It's been crazy. We've seen these huge swings back and forth, you wouldn't believe it. So, towards the end of last year, the Fed was all like, "Hey, we're gonna start cutting rates in the first quarter of 2024 because inflation seems to be calming down." And everyone was like, "Cool, cool," and mortgage rates dropped to some of the best levels we've seen in ages.
But then, plot twist! Inflation decided to be...Have you ever heard the phrase "real estate cycle"? Or "housing market cycle? This is what I will be talking about. May be a little lenghthy but I'm hoping it will help to clear some things up. One question I am often asked, "Is this a good time to buy?" Well, let's see.....
Real estate follows a pattern called the real estate cycle that is linked to local and national economic trends. The real estate cycle is divided into four phases: recovery, expansion, hyper supply and recession.
Whethe...What are the rates doing? How high will they go? We are hearing these two questions often now. The answer? We don't know. No one really knows how high they will be going up. The Fed's did increase rates this month, March 2022 and the next rise is expected in May 2022.
But there are more things that affect the interest rate too, such as the inflation numbers are continuing to rise for the 6th month in a row. Higher gasoline prices, food prices, housing prices as well as the crisis in Ukra...