Bay Area Housing Market Report: Effects of Rising Mortgage Rates 2022
Effects of Rising Mortgage Rates 2022 | Bay Area Housing Market Report
If you're in the market for a new home, you may wonder how rising mortgage rates could affect your plans. After all, interest rates have been on the rise over the past few months, and they're predicted to continue climbing in the coming year. So, what does that mean for home buyers and sellers? After all, interest rates are one of the most critical factors in determining your monthly mortgage payment.
The good news is that rising mortgage rates don't necessarily mean you won't be able to afford a loan. In fact, according to experts, the impact of rising rates on home buyers will largely depend on two things: your budget and the type of loan you're looking for.
Watch the video below to figure out how these rising mortgage interest rates affect you as a buyer or seller in the current housing market!