Interest Rates: Why They May Not Be The Deal Breaker You Think They Are with Greg Tucker

Are you wanting to buy a home but feeling intimidated to do so because of interest rates? We have all probably heard about the interest rate hikes, and when you’re purchasing a home, this is definitely something you want to pay attention to. Three things drive interest rates. Inflation, federal reserve, and the bond market. We know that can be a little confusing. So, on today's episode of Selling Central Florida, we brought back Greg Tucker with Amerifirst Home Mortgage to talk about interest rates and what is going on in the housing market right now during these crazy times. Mortgage rates rise when moving towards fast growth in our economy, so higher inflation and lower employment will make them rise. Since the purchasing power of the dollar is lower, it increases the risk. So they have to raise those rates. In 2020 and 2021, interest rates were historically low, and people got used to those rates and came to expect them. So while the rates are higher than they were during the pandemic, they aren’t that high now, they are just returning to normal. This is great because buyers are getting their power back in the housing market. In today’s episode, we discuss: ● What determines interest rates ● Why the federal reserve affects interest rates ● How the bond market impacts interest rates ● The multiple factors that influence your individual rate ● What a discount point is and how it works ● The benefits of refinancing later on if you don’t like your rate ● What to know about new construction projects The moral of the story is? Don’t let the interest rate of your dream home scare you away from buying a home you love! We always say “Marry the house. Date the rate”. If you find a home you love and can afford the interest rate for now, lock it down. You can always refinance later for a better interest rate. If you like the show, please subscribe and leave a review. This helps us get more listeners and help more people. You can also follow us on Instagram and send a DM if you want to connect! If you know anyone who would love or appreciate our work, please share it with them! It helps us so much. If you would like to search for available homes in central Florida or check your home value, you can use our services for free at tiffsellsflorida.com and JennaNuñez.bellatraerealty.com. You can also email us at [email protected]! Resources Work with Greg Quotes “Rates will go up like a rocket and down like a feather” - Greg “No one can predict interest rates. My best advice is if you like the rate you are at and you like the payment, lock it down and move on.” -Greg “Marry the house, date the rate.” “Don’t let interest rates scare you away from buying the home you love.”