Monica's Corner - September

Rates have certainly edged up to the mid to high 4's.  Many people were surprised from this movement up.  Given the fact that rates have been artificially maintained by the Federal Reserve printing money in order to devalue our currency and keep rates lower, rates should be higher.  How high will they go depends on how fast the tapering occurs as well as how the governments deals with our national debt.  It seems as though we should prepare for slightly higher rates for the future.  Does this mean real estate will crash and burn?  When I first got into the business, my first mentor always reminded me that the best time to buy property is when rates are high.  Rents typically go up and properties face less competition at the bargaining table.  It may be a great time to prepare for your next move...or your first move into home ownership. -- Monica DiPerna