What to Consider When Buying or Selling a Home in a Rising Mortgage Interest Rate Environment
Our website uses cookies We are always working to improve this website for our users. To do this, we use the anonymous data provided by cookies. When mortgage rates are rising, purchasing a home becomes more expensive, and selling a home becomes more difficult due to decreased home affordability. Here are tips on how you can potentially avoid further costs as well as headaches: Monthly mortgage payments in a rising mortgage interest rate environment may be less affordable than when, for example, rates dipped below 3% in 2020 and 2021 during the COVID pandemic.¹ If you’re buying a house, be prepared to adjust your budget accordingly and consider the possibility that you may not be able to afford your dream home. A consideration is to wait until winter months when the homebuying season tends to slow. With less competition during these months, you’re likely to have more bargaining power with sellers and lenders alike.² If you’re selling, rising mortgage interest rates reduce demand, and w
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### Instruction: What to Consider When Buying or Selling a Home in a Rising Mortgage Interest Rate Environment

### Response: Our website uses cookies We are always working to improve this website for our users. To do this, we use the anonymous data provided by cookies. When mortgage rates are rising, purchasing a home becomes more expensive, and selling a home becomes more difficult due to decreased home affordability. Here are tips on how you can potentially avoid further costs as well as headaches: Monthly mortgage payments in a rising mortgage interest rate environment may be less affordable than when, for example, rates dipped below 3% in 2020 and 2021 during the COVID pandemic.¹ If you’re buying a house, be prepared to adjust your budget accordingly and consider the possibility that you may not be able to afford your dream home. A consideration is to wait until winter months when the homebuying season tends to slow. With less competition during these months, you’re likely to have more bargaining power with sellers and lenders alike.² If you’re selling, rising mortgage interest rates reduce demand, and w