10 Year Treasury Note Yields are Rising which means so are Mortgage Interest Rates
Higher mortgage interest rates can become a burden for home buyers because the loan will be more expensive. Meaning....buyer's purchasing power diminishes and can lead to lower home prices. Moreover, this becomes an egregious outcome for homeowners looking to sell at top dollar. Currently mortgage interest rates are at 4%.
However, as I mentioned before in my YouTube video- mortgage interest rates are estimated to reach no more than 5% by the end of this year. That 1% difference will not be detrimental but if rates reached over 6%, then we would need to be worried.
In closing, this year should continue to be good for both home buyers and sellers. Let me know if I can help.