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Nick Pham, Broker

Nick Pham, Broker

Top San Jose Realtor

Interest Rates Expected to Rise in 2022

As most of you already know, there are several predictions of the increased in interest rates in 2022. What does this mean to the active Real Estate Market that we have seen over the past few years, even during the COVID pandemic? If you have been following my bogs, you know that I have shared several market updates.

With the housing inventories remaining extremely low, homes are still seeing multiples offers, selling over asking price (10-40%) only a few days after they are marketed.

Most don’t realize the power of the low interest rates that we have been blessed with. Here is a summary of how much buying power you have! For the same monthly P&I payment, you will lose ~20% power ($670,000 vs $800,000 Purchase), when interest rates are back to their expected “normal” interest rates!!!

DON’T WAIT…

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