Interest rates have now reached 4% and above for FHA and VA loans and 4.25% for Conventional loans. And interest rates are expected to be near 5% by this time next year and even higher in 2015 and 2016. Rising rates could push some potential buyers out of the market.
This adjustment could drop the number of would be buyers by nearly 3 million.
Diane Allan is Realtor in Utah serving the Wasatch Front area with over 22 years experience in Real Estate, Construction, and related fields.
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