With mortgage rates rising and expected to continue rise to 5.5-6% by the end of 2022, the two percent (2%) increase we have seen in the first quarter of 2022 may just be the tp of the iceberg. Rates at most lenders have risen from ~2.75% in January to ~4.75% in late March, and that was after the feds increased their rates by just 0.25%. With the Feds expected to increase their rates six more times throughout 2022, mortgages appear to easily be heading to at least 5.6-6% by the end of 2022.
With mortgage interest rates expected to rise throughout 2022, it appears to be in the best interest of buyers and sellers alike to act sooner rather than later.
Featured Listing
- Bed: 2
- Bath: 1 full
- Sqft: 750
- MLS: H6217500
Price reduced. Now asking just $369,999! Welcome to Apt 3C, a wonderful 2 bedroom 1 bathroom free market, third floor walk-up (no elevator) cooperative apt which beams with light from sunrise... Read More
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 Lee Presser, Realtor® Licensed Associate Real Estate Broker | eXp Realty NYC 1501 Broadway, 12th FL New York, New York, 10036 Direct: (347) 202-1151 Fax: (646) 792-3316 |
©2022 eXp Realty NYC. eXp Realty NYC is a licensed real estate brokerage in the State of New York. All information is from sources deemed reliable but is subject to errors, omissions, changes in price, prior sale or withdrawal without notice. No representation is made as to the accuracy of any description. All measurements and square footages are approximate and all information should be confirmed by customer. All rights to content, photographs and graphics reserved to Keller Williams NYC. Consumers should consult with counsel regarding all closing costs, including without limitation the New York State 1% tax paid by buyers on residential properties over $1 million. eXp Realty NYC represents the seller/owner on eXp Realty NYC's own exclusives, except if another agent of eXp Realty NYC represents the buyer/tenant, in which case Keller Williams NYC will be a dual agent with designated agents representing seller/owner and buyer/tenant. eXp Realty NYC represents the buyer/tenant when showing the exclusives of other real estate firms. In all instances eXp Realty NYC treats all parties fairly and honestly. eXp Realty NYC actively supports equal housing opportunities.
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