Recent trends in the housing market, including rapidly increasing home prices and climbing interest rates, have been making headlines over the past year plus. Larson advisors have been getting all sorts of questions about how drastically this affects their clients financial situations.
According to a national housing survey conducted by Fannie Mae, only 17% of consumers think that it is a good time to buy a home. So by association, does that mean public perception says it’s a good time to sell? It depends… at the end of the day, your investment goals and strategies are unique to you.
No question, interest rates have risen this year and it is expected that the Federal Reserve will raise rates further this year. This in turn leads to higher mortgage rates. However, with the possibility of a recession on the horizon, there are now more expectations amongst experts that rates could be lowered as early as 2023. That being said, so much can happen on a daily basis that could change all of this. Trying to predict mortgage rates will be a challenge, especially in this volatile market.
Talk to your advisor to see how recent housing market trends are affecting your investment goals.
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