This is a good tip for buyers that have been looking at homes for a little while. Interest rates change constantly. If it has been a couple of months since your talked with your mortgage banker, our pre-qualification may be in jeopardy. Buyers that have been pre-qualified or pre-approved for a mortgage at rates that have recently jumped (or even dropped, in some cases) should talk to their mortgage representative to find out how this will affect their home buying ablity. Contact Rebecca Hansen at Guild Mortgage to assist you in this.
Also, both buyers and sellers should check to see if higher interest rates are having any impact on local home prices. If your area is over loaded with inventory and because of higher interest rates, fewer buyers can afford your home, you may have to make a price accommodation in order to sell. Contact me, Jeff Hansen of RE/MAX Professionals to help you with this.