Market Conditions in Hayward>Question Details

Patrick Mona…, Home Buyer in Waukesha County, WI

Do you think there will be an upcoming spike in intrest rates that could cause lower real estate prices?

Asked by Patrick Monaghan, Waukesha County, WI Tue May 10, 2011

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Tom Berlage’s answer
I don't think this will happen in the near future. Interest rates are currently below 5% and we have a large inventory of unsold homes up here. I believe we have reached the bottom of our real estate price correction and the market is starting to pick up. If I can help you find a property up here please don't hesitate to contact me. I am originally from Clearwater, FL
0 votes Thank Flag Link Tue May 10, 2011
Lower Prices, I think we have bled enough at this point, hopefully home prices are starting to scab and heal no matter how the interest rate goes! I hope in the next 18 months we see homes gaining value even if only 1 or 2 percent a year!
0 votes Thank Flag Link Tue May 10, 2011
A spike in interest rates MAY cause a reduction in prices but it could also put some buyer urgency in the market and cause a firming of prices.
0 votes Thank Flag Link Tue May 10, 2011
If your worried about buying an the value going down 10%, You should be more worried about not buying and the rates going up 2%. If price goes down 10% and reate goes up 2% you are still ahead by 10%

Go to calculator under links on my site and change rate on same amount from 5% to 7%

You will be shocked at the results:
0 votes Thank Flag Link Tue May 10, 2011
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