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It's a new year and many people are asking what they can expect to see the real estate market do in 2015. When are interest rates going to rise? Is it going to be another solid year? Today, we'll draw on what the experts have said and try to set some expectations for this year.
Most experts are expecting real estate prices to go up between 3% and 5% over
the course of the year. That doesn't sound like a lot, and that's
because it isn't - it's on par with the national historic average. When
we see prices appreciate at a rate of 10% to 20%, it's an extremely hot
market. Right now, we have a stable, normal market, which is great news.
Will interest rates go up in 2015? Ninety percent of experts believe rates will go up,
as the Fed is planning to increase interest rates in June. Many people
think they can wait to make a move until then, but that's not the case. Interest rates may change before June -
it's dependent on what investors do with bonds. If they're buying and
selling bonds quickly, interest rates could fluctuate a lot.
What you want to do is lock in a low interest rate NOW -
after all, a low rate means a lower monthly payment for you. It's a
great time to buy a home, or upgrade a home, and grab a fantastic
interest rate while they're still available. If you have any questions about interest rates, the market, or the value of your home, don't hesitate to give us a call or shoot us an email.
Thanks for tuning in, and we look forward to speaking with you soon!
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