{"id":19925,"date":"2022-01-12T13:51:23","date_gmt":"2022-01-12T13:51:23","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19925"},"modified":"2022-01-12T13:51:23","modified_gmt":"2022-01-12T13:51:23","slug":"rising-rates-pressure-buyers","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-pressure-buyers\/","title":{"rendered":"Rising Rates Pressure Buyers"},"content":{"rendered":"

Rising Rates Pressure Buyers<\/h1>\n
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House hunters are watching mortgage rates closely. After all, every increase could have an impact on affordability, particularly given escalating home prices.<\/p>\n

Nearly half\u201447%\u2014of home buyers recently surveyed say they would feel more pressure to buy a home if mortgage rates passed 3.5%, according to a new consumer survey conducted by Redfin.<\/p>\n

Mortgage rates are largely forecast to continue to rise over the coming months. Last week, the 30-year fixed-rate mortgage rose to its highest average since May 2020<\/a>, averaging 3.22%, Freddie Mac reports. The National Association of REALTORS\u00ae forecasts that mortgage rates will average 3.7% by the end of this year.<\/p>\n

Buyers who were surveyed say that increases in mortgage rates would also have an impact on the type of home they decide to purchase. Twenty-nine percent of buyers say that if mortgage rates increase above 3.5%, they will change their target\u00a0areas to buy a home and seek a smaller one.<\/p>\n

Only 7% of the 1,500 home buyers surveyed say they wouldn\u2019t change their plans at all if mortgage rates rise above 3.5%, the Redfin survey shows. Only 2% would cancel their plans to purchase a home altogether if rates increase past that amount.<\/p>\n

\u201cMortgage rates increasing will make homebuying less affordable,\u201d says Daryl Fairweather, Redfin\u2019s chief economist. \u201cOver time, that will put the brakes on demand and put an end to double-digit annual price growth. But in the short term, this increase will light a fire under home buyers and make for an extremely competitive January.\u201d<\/p>\n

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\u201cNearly Half of House Hunters Would Feel More Urgency to Buy if Mortgage Rates Passed 3.5%: Survey<\/a>,\u201d Redfin (Jan. 7, 2022)<\/div>\n
\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Rising Rates Pressure Buyers House hunters are watching mortgage rates closely. After all, every increase could have an impact on affordability, particularly given escalating home prices. Nearly half\u201447%\u2014of home buyers recently surveyed say they would feel more pressure to buy a home if mortgage rates passed 3.5%, according to a new consumer survey conducted by … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-19925","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nRising Rates Pressure Buyers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/rising-rates-pressure-buyers\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-pressure-buyers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-pressure-buyers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Rising Rates Pressure Buyers\",\"datePublished\":\"2022-01-12T13:51:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-pressure-buyers\\\/\"},\"wordCount\":280,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-pressure-buyers\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/1.10.2022_buyerurgency.png?itok=vvtMVzdI\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-pressure-buyers\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/rising-rates-pressure-buyers\\\/\",\"name\":\"Rising Rates Pressure Buyers - 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