{"id":10723,"date":"2022-10-11T16:32:37","date_gmt":"2022-10-11T16:32:37","guid":{"rendered":"https:\/\/elizabethjebef.com\/?p=10723"},"modified":"2022-10-11T16:32:38","modified_gmt":"2022-10-11T16:32:38","slug":"two-questions-every-homebuyer-needs-to-ask-now","status":"publish","type":"post","link":"https:\/\/elizabethjebef.com\/?p=10723","title":{"rendered":"Two Questions Every Homebuyer Needs to Ask Now"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><\/h3>\n\n\n\n<p>Rising\u00a0interest rates\u00a0have begun to slow a frothy housing market as monthly mortgage payments have\u00a0risen dramatically\u00a0since the beginning of the year. This is leaving some people who want to purchase a home priced out of the market and others wondering if now is the time to buy one. But this rise in borrowing cost shows no signs of letting up soon.<\/p>\n\n\n\n<p>Economic uncertainty and the volatility of the financial markets are causing mortgage rates to rise. George Ratiu, Senior Economist and Manager of Economic Research at&nbsp;<em>realtor.com<\/em>,&nbsp;<a href=\"https:\/\/www.realtor.com\/research\/freddie-mac-mortgage-rates-sep-29-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">says<\/a>&nbsp;this:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong><em>\u201cWhile even two months ago rates above 7% may have seemed unthinkable, at the current pace, we can expect rates to surpass that level in the next three months.\u201d<\/em><\/strong><\/p><\/blockquote>\n\n\n\n<p>So, is now the right time to buy a home? Anyone thinking about buying a home today should ask themselves two questions:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>1. Where Do I Think Home Prices Are Heading?<\/strong><\/h4>\n\n\n\n<p>In 2023, experts are forecasting home price appreciation around 2%. While it\u2019s true some are calling for depreciation, most are calling for appreciation in home values over the next year.<\/p>\n\n\n\n<p>The latest \u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/pulsenomics.com\/surveys\/#home-price-expectations\" target=\"_blank\"><em>Home Price Expectation Survey<\/em><\/a>\u00a0from\u00a0<em>Pulsenomics\u00a0<\/em>\u2013 a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists &#8211; is also calling for home price appreciation for the next several years.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2. Where Do I Think Interest Rates Are Heading?<\/strong><\/h4>\n\n\n\n<p>As I  mentioned above, Ratiu sees mortgage rates rising over the next several months and Mark Fleming, Chief Economist at\u00a0<em>First American<\/em>,\u00a0agrees.  He states:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><em>\u201cWhile&nbsp;<strong>mortgage rates are expected to continue to drift higher over the coming months<\/strong>, much of the rapid increase in rates is likely behind us.\u201d&nbsp;<\/em><\/p><\/blockquote>\n\n\n\n<p>The instability in the world and higher inflation are driving this volatile market, resulting in higher borrowing rates for those looking to buy homes.<\/p>\n\n\n\n<p>If you are considering a home purchase, reach out.  I would love to help you navigate the evolving marketplace with creativity and confidence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>11 October 2022 ~ Rising interest rates have begun to slow a frothy housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people who want to purchase a home priced out of the market and others wondering if now is the time to buy one. <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[225,87],"tags":[231,232],"class_list":["post-10723","post","type-post","status-publish","format-standard","hentry","category-home-buyers","category-trends","tag-home-values","tag-housing-market"],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"elizabethjebef","author_link":"https:\/\/elizabethjebef.com\/?author=2"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts\/10723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10723"}],"version-history":[{"count":0,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=\/wp\/v2\/posts\/10723\/revisions"}],"wp:attachment":[{"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elizabethjebef.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}