Interest Rates Don’t Determine The Market – Life Does

We can’t seem to catch a break with interest rates lately. The Fed voted to increase them again this week. And while mortgage rates didn’t instantly shoot up, it’s going to have an impact.

Every 1% raise in interest rates decreases buying power by 10%, and they are up almost 3% from last year. That’s a serious change in buying power.

But before we all decide to dust off our resumes and find a new career, it’s important to remember – interest rates don’t determine the market, life does. They absolutely affect it, and this rate hike is going to make a difference for buyers, but they aren’t buying for interest rate. They are buying for life.

Change drives real estate. Job changes, relationship changes, and a whole host of other things.

One of the best things you can do for your clients right now is to show up ready to listen and serve. Don’t make assumptions about what they can or will do relative to the market.

You got this!

To your success!
Nicole