As we all learned last week, the FED raises interest rates by .25%. Not a big jump but nonetheless a jump that will lead many to think that the end of the world is near. Don’t jump! In the slideshow below, we’ll show you slide by slide why a rate increase is not the end of the world for the housing market. But, first, a warning. If you are on the fence about buying, the interest rate increase (while not significant) in the grand scheme of things could be significant to your pocketbook. On average, that .25% rate hike (BTW, it was already baked into long-term treasuries) will cost you approx $125 extra per month towards your mortgage payment.
We urge you to study the data and make an informed decision. All the best!
