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How Rising Interest Rates Will Affect You


If you are thinking about buying and or selling a home this year, you'll want to keep a pulse on what's happening with mortgage rates as they have been climbing in recent months and are predicted to continue to climb this year. 

With home prices steadily climbing here in the Treasure Valley, many people have put their housing goals on hold hoping and waiting for things to change; however, the supply and demand issues that are causing our market's growth are not easily going away and the more people wait and put their real estate goals and dreams on hold, the more it has ended up costing them. 

Now, with interest rates also on the rise, waiting to make a move may cost you more if you wait, and could even cause you to not be able to afford to make a move at all. 

 If you are considering buying or selling a home this year, our advice is don't stand on the sidelines waiting for things to get cheaper.

Remember, real estate is a long-term investment, and making wise decisions should be based heavily on your own personal needs and goals, not just what is going on in the market at large. Give us a call and let's discuss your personal situation and then we can offer you the best advice that is personalized for you, your goals, and your timeline.

If you have questions we want to hear from you! Give us a call today at (208) 501-8200 or email us at info@westrealestategroup.com.

To schedule an appointment you can do so by clicking here. 

At Your Service,
The Team at West Real Estate Group

 

Interest Rates as of 3/16/2022

  • 4.25% (4.443 APR) ~ 30-Year, Conventional Fixed Rate, Primary Residence; assuming 720 credit score.
  • 3.50% (3.797 APR) ~ 15-Year, Conventional Fixed Rate, Primary Residence; assuming 720 credit score.
  • 4.00% (3.298 APR) ~ 30-Year, FHA/VA/RD (Primary Residence), assuming 660 credit score.
  • 4.875% (5.029 APR) ~ 30 Year, Conventional Fix Rate, Investment Property, assuming 740 credit score; with 25% down payment.
  • 5.125% (5.395 APR) ~ 30 Year, Conventional Fix Rate, Investment Property, assuming 740 credit score; with 20% down payment.
 
The West Real Estate Group Team
Market Snapshot
Real Estate News
 
 
1. BRR Market Report: February 2022
The median sales price for Ada County reached $549,900 in February 2022, an increase of 21.6% compared to February 2021, and a new record for the county. 
READ MORE  >
 
2. How Global Uncertainty Is Impacting Mortgage Rates  
Rates have been climbing in recent months, especially since January of this year. Learn more about how these changes may affect you.
READ MORE  >
 

3. How To Navigate a Market Where Multiple Offers Is the New Normal 
If you’re thinking of buying a home today, you already know that the number of homes available for sale is low. But what does that really mean for you?
READ MORE >

 

4. Why It's Critical To Price Your House Right When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market

READ MORE >

 
 
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"Derek was our Realtor

 and we couldn't have been more pleased. Derek has been in the real estate industry for almost 20 years and it shows! His expert knowledge was extremely valuable while choosing the best house for our growing family. You definitely can't go wrong with West Real Estate Group!

-Caleb Abernathy

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Please help us in welcoming Luke Brodt to the West Real Estate Group family. Luke came on board a few months ago and has already experienced great success as an agent.

We are confident that he will be a huge asset to our team as we strive to meet our clients needs and know that you will love his down to earth demeanor and his get it done personality.

To learn more about Luke, please click here to read his bio. 
 
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