Rising interest rates do not mean that we’re headed for a recession.
Due to rising interest rates, countless people are asking me whether we’re going into a recession. Yes, rates have gone up a little bit. However, we believe the fundamental laws of the mortgage market still apply.
Over the last 14 years, lenders have been giving good loans. There may be some people that are in tough conditions, but we don’t have the types of risky loans that were out there before, so there isn’t a huge proliferation of foreclosures. There might be a slight uptick, but nothing too big.
The current inflation is due to COVID-19 and the war in Ukraine. Eventually our prices will decrease, but even now, opportunity still abounds. Inventory has started to rise which is great for buyers, plus there are still opportunities for sellers to get top dollar for their properties because buyers are still hungry.
If you have any questions, feel free to give us a call or send an email. We look forward to hearing from you.
