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Real estate buying question.
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jdironman
Posted 5/13/2022 07:58 (#9658738 - in reply to #9657742)
Subject: RE: Real estate buying question.


Nw Iowa
The fed moved their rates a 1/2%, the market has moved rates over 2%. It is a big misconception that fed rates are housing rates. It is part of deal but not the whole deal. People started construction on a new home when long term rates were 2.5% and now are looking at locking in rate when house is completed at over 5%. So 2% on a 400000 house is 8000, just under 700 a month. Big deal.
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