There is overwhelming news and media coverage regarding today's real estate market. It seems that, based on most coverage out there, it's both a great time to buy and a great time to sell. Social media is the same narrative, everything is great for everyone. When the world is telling you to have your cake and eat it too, something isn't right. So what is the truth?
Let's take off the rose colored glasses for a moment and look at the numbers and what's driving them, interest rates. In less than a year, rates went from historic lows in 2021 to 30-year highs today. To illustrate the effect of rates on today's market, let's examine what your mortgage payment will be in three different mortgage scenarios. Fair warning; you will be grossed out
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