Will the stock market shakeup affect mortgage rates and home sales?
The Stock Market Shakeup and Home Sales Since then the market has continued to be turbulent.
Then, President Trump's tariffs announcement made it drop 420 points on March 1.
So how does the recent shakeup affect you if you’re thinking about buying or selling a home?
When the yield on these notes increases, mortgage rates increase.
On a $250,000 mortgage that’s $70 per month ($840 per year).
But as interest rates rise, you could find yourself facing a monthly payment similar to what you would have with higher home prices and lower interest rates.
It might be a good time to buy a home before rates increase any further, but only if you’re otherwise ready and only if you find a home you will be happy living in for years.
Mortgage rates are still relatively low, making it a good time to take out a home loan.
Short-term stock market shakeups should not be a factor in home buying or selling decisions.