The Best Way To Keep Track of Mortgage Rate Trends in the Raleigh Real Estate Market
If you’re thinking about buying a home in Raleigh, NC, chances are you’ve got mortgage rates on your mind. You’ve heard about how they impact how much you can afford in your monthly mortgage payment, and you want to make sure you’re factoring that in as you plan your move.
The problem is, with all the headlines in the news about rates lately, it can be a bit overwhelming to sort through. Here’s a quick rundown of what you really need to know to stay informed about Raleigh real estate trends.
The Latest on Mortgage Rates and Raleigh NC Homes for Sale
Rates have been volatile – that means they’re bouncing around a bit. And, you may be wondering, why? The answer is complicated because rates are affected by so many factors – just like how both local and national economic conditions influence Raleigh real estate listings.
Things like what’s happening in the broader economy and the job market, the current inflation rate, decisions made by the Federal Reserve, and a whole lot more have an impact. Lately, all of those factors have come into play, and it’s caused the volatility we’ve seen. As Odeta Kushi, Deputy Chief Economist at First American, explains:
“Ongoing inflation deceleration, a slowing economy and even geopolitical uncertainty can contribute to lower mortgage rates. On the other hand, data that signals upside risk to inflation may result in higher rates.”
How Real Estate Professionals Can Help with Raleigh Real Estate
While you could spend hours researching how all these factors impact mortgage rates, it’s a lot to take in—especially when you're planning a move to or within Raleigh, NC. That’s where working with The Sheri Hagerty Group comes in handy.
As one of the top real estate agents in Raleigh, NC, Sheri Hagerty and her team specialize in guiding clients through market conditions, whether you’re buying a luxury home in Raleigh or looking for a condo for sale in Raleigh, NC. We focus on giving you a quick summary of broader trends, what experts predict for mortgage rates, and how those predictions impact your ability to buy a home in Raleigh.
Take this chart as an example. It gives you an idea of how mortgage rates impact your monthly payment when you buy a home. Imagine being able to make a payment between $2,500 and $2,600 work for your budget (principal and interest only). The green part in the chart shows payments in that range or lower based on varying mortgage rates (see chart below):
As you can see, even a small shift in rates can impact the home price you can afford if you want to stay within that target budget.
It’s tools like these that take everything happening in the economy and real estate market and show what it means for you. Only a real estate professional with expertise in Raleigh homes for sale can guide you through these tools and help you make informed decisions.
You don’t need to be an expert in Raleigh real estate or mortgage rates—that’s what we’re here for. Whether you're searching for homes for sale in Raleigh, NC, or keeping an eye on Raleigh NC real estate listings, The Sheri Hagerty Group has you covered.
You don’t need to be an expert on real estate or mortgage rates, you just need to have someone who is, by your side.
Bottom Line
Have questions about what’s going on in the housing market? Let’s connect so we can take what’s happening right now and figure out what it really means for you.
Sheri Hagerty
Lead Broker/Owner, The Sheri Hagerty Group at Hodge & Kittrell Sotheby's International Realty
919.862.6258
