Rising Interest Rates: Here’s why now is the time to buy.
You or someone you know may have been thinking of buying a house but are a little hesitant because you have been hearing a lot about rising interest rates.
At our local Credit Union, the 5-year fixed rate has increased 3.9% in the last 22 months. Many buyers are saying “I want to buy, but I want to wait to buy a house until interest rates go down”, which I totally understand! If I wasn’t daily analyzing the market, I might agree with you.
The thing is, do you know what else has changed? There are no competing offers when buying a house and you can often negotiate a better deal and get below asking price.
We have a very stable real estate market in Manitoba, not to mention our average home price is still almost 50% less then the Canadian average.
Many doomsday journalists are saying “BEWARE OF THE MARKET CRASH!” But what are the real stats? As you can see in this linked article, though we have had some turbulent times (dot-come bubble, financial crisis of 2008) the last 50 years have seen an INCREDIBLY stable market in Manitoba!
The housing market is more balanced than any time in the last 2 years. This might be the best time to buy! And according to well-known financial guru Dave Ramsey, this might be the best time in the next 5 years! Check out this link here!
It’s understandable that you’re a little nervous about buying. With one of the biggest purchases you may ever make, you don’t want to make a mistake.
Interested in discussing your goals further or know of someone that is looking to buy a house, book a call here!
I would love to chat.
What will we discuss?
- Current market: risks and rewards of jumping in now
- Long term real estate goals for you and your family
- A strategy to accomplish those goals in a timeline that fits you
Grab your spot in my calendar here!Posted by Brad Elias on