The Race is On For the Spring Housing Market 2022
So today I want to talk about one of these things that everybody's been talking about interest rates. For years you've been hearing that they're going up.
Remember one thing in 2018, they started this taper talk and moving up short-term rates with the Fed. That's what you hear about most in the news and interest rates went over 5 today. The news today is that the 10-year treasury is above one eight. That's a two-year high. The 10-year treasury is something you rarely hear about. As an everyday consumer of news you will hear about the Fed which is the short-term money, but they hardly ever talk to you about the 10-year treasury. That's the underpinning of mortgages. What that tells me is a reversion to the mean and when I think of the mean, where we're going back you know if it swings one way, it's gonna swing the other. We're heading back toward that 2018 into 2019 interest rate environment, where it's rising on both ends of the curve. That is going to affect your housing payment. Many rentals and houses right now are stocked up, and there's very little available, so I don't think it's going to affect the market that much. It will really affect the lower end for a lot of people and maybe take something off the top end a little bit, but that middle ground, that everyday deal, is going to be way more expensive and that's happening as we speak.
So make sure to check in with your lenders, check-in with me, if you need anything. I'm always here. This is an important topic to talk about everything that's happening.