Towards the end of 2022, interest rates were a major concern. They seemed to be increasing weekly with no cap in sight! Many buyers abruptly stopped their searches. Who could blame them when these high rates made such an impact on what they could afford. Thankfully, this interest rate frenzy is leveling out. Just two months in to 2023 and we are already seeing buyers returning to their search. Why? Simply put, they still need to move! With growing families, health concerns, job changes, a move cannot be put on hold. Advice for buyers: Know your numbers, work with a reputable lender to qualify, and understand what you can truly afford with today’s rates. Finally, don’t give up on your dream of owning a new home this year!
