Do rising interest rates mean you have to jump head-first into a home search if you’ve been on the fence? Interest rates are only one component to consider when making the decision to buy your first home, so maybe slow your roll a tad. But since we’re on the subject and rates do impact the monthly cost of home ownership, let’s examine what you’ll face if you decide to wait a few years.
Are Interest Rates Rising?
The simple answer is “yes.” The more complicated answer is “Yes, but not in a straight line.” Short-term movement doesn’t really matter to you if you are trying to decide whether to buy now or buy next year; it’s only the long-term trends than count.
Given that the Feds are committed to seeing both short-term and long-term interest rates…