Rising mortgage rates to your benefit?

[ClicketyKat]

Do you think that rising mortgage rates can be to your benefit?

During Covid in the US, rates for mortgages were really low and people who were in big cities flocked to the country and suburbs, buying up homes at high prices. Since there were many people wanting homes, the cost of the homes went up in many neighborhoods. Now that mortgage rates are rising, the cost of the homes aren't going up as quickly and that's good for buyers, but not sellers.

 

[Smiles20]

Whenever there is a change in the way things are done like this then this is an opportunity for you to capitalise and take advantage of. If I had the necessary liquidity at that time I will definitely have gotten the mortgage at a low price also.

 

[glitch]

Usually, when the rates go up, it means one of two things: The banks are expecting a house market crash OR the banks are trying to avoid going bankrupt themselves. Both can be true at the same time.

 

[Kvngsammy]

Like you stated, it's dependent on which end of the food chain you find yourself. As a seller, you might just decide to hold on a little longer to your property or involve the services of am expert with track record that'll help get higher value for you.
Otherwise, you can renovate some areas to increase the value of your home yourself.

 

[Smiles20]

This is exactly one of the bad things that inflation can be able to do because it is going to make you to pay more even when the money you are making is not.

 

[tyrim88]

That is just the basics of demand and supply,you will always have a situation whereby the price of rhings sometimes infrastructure like housing going down for the purpose of a quick sell.

 

[Danny4cash]

Yes, raising of mortgage is for the benefit of sellers. It will definitely benefit anyone that applying for mortgage because once the mortgage is raise, the actual cost of the house will drop.

 

[tyrim88]

Yes, raising of mortgage is for the benefit of sellers. It will definitely benefit anyone that applying for mortgage because once the mortgage is raise, the actual cost of the house will drop.

One of the things that I know which can affect the price of a property is inflation,once the price of a mortgage property is raised,then you are sure of getting few interest from the buyers,sellers will gain while prospective owners losses out.