How Rates and Prices Balance Each Other Out

If you’re involved in the housing market at all, you know that interest rates have gone up. To stay up to date, I recently met with Miguel Oliveira from Oliveira Mortgages. He has some great things to say about interest rates and home prices.

According to the data, home prices have dropped, interest rates have risen, and monthly payments have mostly stayed the same. That means that rates and prices have balanced each other out.

With these changes, it is crucial to remember that you’re dating the rate but marrying the house. The rate can be changed, but the house is yours for a lot longer. Long term, the house is eventually going to make you a profit, and the rate is eventually going to come down. Oliveira Mortgages has a variety of mortgage solutions that can help you afford a house even when rates are higher like they are today. I would be happy to get you in contact with him, and if you have any real estate questions, I would love to help you. Call or email me anytime—I look forward to hearing from you!