Interest rates are rising like crazy. We all knew it was coming, but what does it mean for the real estate market and your ability to buy or sell a home. Hi, I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty… and I have sold homes in all kinds of markets and I can help you navigate this one as well.
Rates are expected to keep rising as we continue through the year. We started 2022 with mortgage rates at about 3.11% for a 30-fixed loan according to Freddie Mac. As the year has gone on, the most recent data from Freddie Mac shows that rates have risen to 4.76% (Used Slide Here). Freddie Mac actually addresses this rise in rates by stating, “Mortgage rates are likely to continue to move higher throughout the balance of 2022. Although the pace of rate increases is likely to moderate, much of the increase in rates in early 2022 is in anticipation of what will happen later this year, especially with Federal Reserve interest rate policy.” All the experts have been projecting this, we knew this was coming, but we are hopeful that the upward climb of interest rates will be slowing down as the year goes on. This month we will be taking a look at past markets that reflect what we are seeing today and see what experts are saying about what that means for us.
And ask me about my tiered home selling plans where you get to pick which real estate services you want and the fee you pay offering you simplified and transparent choices! Tanja Odzak, Our East Bay Home AND eXp Realty and I’m always here to help. Reach out anytime even if you’ve just got questions.
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?