Selling Reno And Sparks Real Estate Blog

head_left_image

When Interest Rates Start to Rise...

What happens when interest rates start to rise?

If you are thinking of buying a home, you may be wondering what to do if interest rates start to rise. News reports of rising interest rates may leave you anxious to lock into the lowest rate you can. While rates my rise, experts say that any increases are expected to be modest. Making sure you are in constant contact with your lender during the entire home hunting process will help keep you calm and on track. 

 

What the experts say...

 

Sixty-two percent of consumers think interest rates will continue to increase  during the remainder this year and into 2018. Experts agree that rising interest rates will have an impact on the affordability of mortgages and may slightly impact the overall US housing market in many areas, Reno, NV included.

 

Many of the buyers I talk to feel that a modest increase in interest rates won't affect their decision do purchase a home. They might have to think about reevaluating which homes they can afford, but  a slight increase should not make an impact on qualify, in most cases.

 

Perspective is important...


Although rates are expected to rise, it is important to keep in mind interest rates are still almost half the historical average of 8.25 percent. Even if rates continue to increase, they will likely remain well below that number. Additionally, more applications are being approved than before due to better lending models and a strong housing market. The bottom line is, if you're ready to buy, it is always a good time to get started on the home buying, mortgage applying process. 

 

When interest rates start to rise while you are still in the hunt for the perfect home, take the time to work closely with your lender to help guide you along the way. Your trusted real estate adviser will be another great resource to help you through the ups and downs of mortgage interest rates.

 

When interest rates start to rise...

 

If you surround yourself with professionals who are experienced with all levels of the mortgage world and the home buying process, you won't have to panic when interests rates start to rise. You will be guided throughout the process and feel confident in the decisions you are making.

 

At Ferrari-Lund Real Estate, we work with a team of professional lenders who have can help you with this process. Please feel free to contact me for a list of our preferred lenders when you are ready to start the home buyer process.  My contact number is 775-846-5424 and my email is Terrie@terrieleighton.com

 

 

Your Home. My Priority. Since 2003

Certified Distressed Property Expert (CDPE)
Certified Default Resolution Specialist (CDRS)
Short Sales & Foreclosure Resource ~ Certified (SFR)
NAR's Green Designation ~ Certified Green
Certifed Negotiation Expert (CNE)
Property Manager

Ferrari-Lund Real Estate

 Cell ~ 775.846.5424

Email ~ Terrie@terrieleighton.com

 

Facebook   LinkedInTwitter

Comment balloon 2 commentsTerrie Leighton • October 26 2017 11:45PM
When Interest Rates Start to Rise…
share
What happens when interest rates start to rise? If you are thinking of buying a home, you may be wondering what to do if interest rates start to rise. News reports of rising interest rates may leave you anxious to lock into the lowest rate you can… more
Nevada Super Pet Adoption Day 2017
share
Free ~ This Saturday ~ October 14th ~ 10 to 4 Where: Rancho San Rafael Regional Park Reno 1595 N Sierra Street, Reno NV 89503 It's time to find the love of your life! Picture a partner with big, brown eyes and a heart of gold… more
Sold And Closed in Reno, Nevada
share
~Sold And Closded In Reno NV 89503~ I’m pleased to announce that 1426 Wessex Circle in Reno is now SOLD and Closed courtesy of Terrie Leighton with Ferrari-Lund Real Estate representing the buyers. My precious buyer is attending the University of… more
7419 Europa, Sparks NV 89436
share
7419 Europa Drive - $395, 000 Modern Updates Throughout Gorgeous, open concept home with 10 ft ceilings located within the desirable Foothills at Wingfield Village. This beautifully maintained home shows like a model, and is completely… more
Take Your Dreams To New Heights!
share
more
4097 Talladega Drive Sparks NV View Home For Sale
share
Single Family Home for sale in Sparks, NV Overview Maps Photos Features $440, 000 Single Family Home Main Features 5 Bedrooms2 Bathrooms1 Half BathroomInterior: 3, 524 sqftLot: 0. 19 acre(s)Year Built: 2006MLS #: 150015749 Location.. more
Home For Sale With Stunning Mountain Views
share
Lovely Reno Home For Sale Overview Maps Photos Features Description Neighborhood $960, 000 Single Family Home Main Features 3 Bedrooms2 Bathrooms1 Half BathroomInterior: 3, 579 sqftLot: 1. 02 acre(s)Year Built: 1996MLS #: 150010297.. more
Exceptional Home In Sparks, NV For Sale
share
Exceptional Home For Sale Overview Maps Photos Features $399, 500 Single Family Home Main Features 4 Bedrooms3 BathroomsInterior: 2, 758 sqftLot: 0. 23 acre(s)Year Built: 2005MLS #: 150012847 Location 3705 Comet LinearSparks, NV… more
Home For Sale In The Reserve At Monte Rosa
share
Semi-custom Reno home for sale in the Reserve at Monte Rosa ~3810 Nature Trail Reno, NV 89511 ~ MLS #150009899~ Located in a gated community along the Mount Rose Highway, The Reserve at Monte Vista. Built and designed by HomeCrafters an… more
Just Listed ~ Wingfield Springs ~ Sparks, NV 89436
share
Welcome home to this newly listed, meticulously stunning home in Wingfield Springs~ Spanish Springs East, a master planned golf course community with many walking trails and an incredible sports complex nearby! 2850 Albazano Drive Sparks, NV… more