Interest Rates are Rising: Here’s What They Mean

By Mrs. Karen Behfar May 31, 2018 12:39 PM

If you are looking to purchase a home, now is the time to begin the hunt. Interest rates are on
the rise and they are predicted to continue. However, this doesn’t mean that all potential homebuyers should panic. In fact, rates are still low and it will take a considerable amount of
time before they jump too high.

Why Are Rates Rising?

More than a decade ago, the economy took a hit but we are quickly rebounding. Often, when
the economy improves, interest rates also increase. This is because banks need to charge more
to pay for their workers and services.

What Does the Future Look Like?

Interest rates change daily. And while interest rates may be on the rise, it will be a slow and
gradual process. Although, many experts predict that rates will increase at a much faster pace than in the past. While there is no need to panic, if you are waiting for the right time to purchase a home, now is the time to begin actively searching.

If you need help with any current real estate questions or want to discuss your options in finding a new home, contact Karen Behfar at karen@thebehfarteam.com.

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Experienced Real Estate Broker with a demonstrated history of working in the Real Estate industry. Skilled in Selling, Negotiation, Customer Service, Sales, and Working with Investors. Strong Real Estate professional. Bachelors of Psychology and a Master’s Degree focused in Special Education and Teaching from Touro College helps her navigate the intricate world of Real Estate in the Brooklyn Market.