Rising Rates are Reshaping the Housing Market with Jeff Southcott, 1st State Bank

The cost of living has become expensive lately. Inflation is driving up prices of everyday essentials like groceries, utilities, transportation, and now the housing market. You’re probably thinking, “tell us something we don’t already know.” On today’s episode, host William Zank speaks with Jeff Southcott, Senior Vice President at 1st State Bank. Jeff and Will talk specifically about the housing market. Jeff has been working as an expert in the housing market for years. He shares insight on where he believes the housing market is heading in the coming years. If you want to purchase new real estate, this episode will give you alternative options for this current housing market and insight into rising rates’ impact on new homeowners. Jeff also speaks on how the FED raising the interest rates will impact home purchases. Rising rates are causing prospective buyers to put off owning a home and could even make some homeowners no longer eligible to purchase a home. Lastly, Jeff decodes perspective ways to save money with new home purchases and touches on the Adjustable-Rate Mortgage and how they could be beneficial in the long run. Jeff Southcott, Senior Vice President, Residential Mortgage Administratorhttps://www.1ststate.bank/contact-us/