Federal Reserve Raises The Rate Leaving Buyers Confused

Fobby Naghmi, National Sales Manager for First Option Mortgage is joined by his co-host Madison "Madness" Keenan of AnnieMac Home Mortgage. In order to fight inflation, the Federal Reserve raised key interest rates by 0.75%.   While this may have some positive effect on the economy, Madison is discovering that her pre-qualified borrowers are more confused than they were when they were overbidding on houses!   Their hesitation is based on fear of what if the price of the homes decreases after the closing?? The good news for Madison is that Fobby's 28 years of experience allows for solutions in almost any market.  Fobby terms the potential homebuyers as they have entered the "Pre-Qualification Zone".