05/06/2022
If you want a succinct explanation of what's happening with interest rates and impact moving forward, this is a great, quick article. For 30-year rates (conventional loan types), rates are now over 5% and will continue to increase to 5.5% by the end of the year. While this seems crazy high compared to what we've experienced in the last couple of years, these are still historically low rates (i.e., it was 8% back in 2000 and 16% back in 1980s - yikes!). Still a good time to buy, but you may need to adjust your price point as we move through the year and rates continue to go up.