The Housing Market Already Responds to Higher Interest Rates



The HOP (Home Ownership Podcast) Episode 101: The BIG NEWS is that the FEDs have raised interest rates, up to 5% for 30-year jumbo loans and 5.625% for 30-year fixed conforming loans. This hike in interest rates is already affecting the real estate market. As the interest rates continue to rise, some buyers may be reluctant to take out loans and cash buyers might not have to pay as steep of a price to purchase a home. This last week there were 46 new listings, 17 prices were lowered, 31 coming soon, 28 pending and 4 listings expired. If you’d like to talk to David about buying or selling property in Santa Barbara, email him at david@davidcharlesallen.com or call 805-617-9311

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