As we head into warmer weather, the real estate market also heats up, historically. Are higher rates keeping buyers on the fence? The answer is maybe. Interest rates are still low, when you look at them over the past few decades. For example, I bought my first house at 13.875% on an FHA 30 year fixed. I wasn't worried about it. That was the going rate at that time. Rates did go down and when I could refinance below 10%, I did. I ended up refinancing again at 8%.
If you buy now and rates decrease, you can refinance (after your sixth payment). If they stay the same or go up, then you'll be glad that you bought when you did. There are some bargains out there. I'd love to run some numbers to see what you would qualify for.
Just call me- Dru Scott 559-314-LEND