Real Estate Market Update October 1, 2022

Interest Rate is Going Up Again In November 2022

Yes, interest rate is going up again in November 2022 in the next Fed meeting

I know this is bad news but I can tell you 2 things:

1. Nothing lasts! The real estate market has been always up and down. It’s expected for interest rate to stabilize for a year then go down.

2. You can buy a home when you can afford to buy. But remember, when interest rate goes down, home prices will go up and competition will start again.

So if you can afford and qualify to buy a home now, then do it and you can always refinance when interest rate goes down. If you’re ready to buy a house anywhere in Southern California, call me for a chat.