Changes in interest rates for home mortgages today in REALTALK™ #69 by Roger Pettingell

Changes in interest rates for home mortgages today in REALTALK™ #69 by Roger Pettingell


Hi, welcome back to REALTALK™ with Sarasota’s luxury waterfront specialist, Roger Pettingell. Good morning, Roger.
Mary Kay, how are you on this beautiful December day? I think there’s a lot of
people in the nation that would be jealous that we’re standing out here, on
the water, in about 76 degrees. I know, I can’t wait until these REALTALKs hit Ohio. Right, I thought this morning we’d talk about just some trends that you might be seeing
bubbling up, things that are happening now that might carry on into the new year. Ok, I mean, the trend that’s on my mind
is interest rates. Right. So if you’ve been watching CNBC, that’s the way I love to start my morning, you see that there’s a lot of talk and a lot of real belief now that
the Fed will increase interest rates by 25 basis points at their next meeting, so next week. You know, probably that would happen, it’s certainly coming. Right, we’ve talked about this for years, and years. That we’re
at historically low interest rates and that they can’t keep that this levels,
that kept at this levels for a long time. But that’s going to change, and what’s that going to do? Typically, as you start to see rates go up you do see an increase in
demand. So people want to lock in those rates, they decide to make that buying
purchase. You know, it’s the one thing that pushes them over to make that decision. Right. So I
see it a little bit. I see it more out in the outlying areas. I have a lot of
friends that I network with outside of Sarasota, more in the Northeast, that
are seeing a real influx in purchases based on people being concerned. I mean
the rates are at 3.75. So, do they go to four, do they go to four and a half? I mean,
that’s still a great rate, compared to the, I remember eight and a half, and
I remember stories of the seventeen percent interest rates. You can still
sell a house then but it’s much harder. Much harder. So, I’m looking at the
interest rates. I mean, I do think that that’s going to be a game-changer for
next year, one way or the other. It will be interesting to see what happens next
week and what that impact is. Watch CNBC. Thanks so much for joining us this
week on REALTALK™. See you next time.

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