- Alright, first big thing: interest rates have hit a 13 year high. Alright, we’ve all been expecting that. We all see interest rates going up. Where do interest rates sit right now on a 30 year fixed with good credit? You’re probably in the mid fives right about now. Some low fives, some high fives depending on credit score. Investor transactions are already in the sixes. Okay, we’re expecting another Fed rate hike any time now, but what does that rate increase do to a payment? So let’s just put this in perspective if you’re getting a $300,000 loan and your interest rate goes up 1% say from 4.5 to 5.5, or from 5.5 to 6.5. It’s gonna raise your payment by $193 a month. But if that house goes from $300 to $350, Your payment’s gonna go up $316. So what’s worse the house going up $50,000, which we know is going to happen.
- The second big thing you need to know is that even though home sales have dropped about 2%, which is not really even a drop because they’re skyrocketing. Home sales have dropped about 2-3%. Their prices are still going up. That means it’s a good time to buy. I’m in the market to buy right now. I just got through buying another investment property. I think it’s smart to buy because I know what our values are going to do in within the next 5-6 years. So I’m buying and holding and watching this thing ride it out. So if you want to accumulate wealth, Real estate is the way to do it.
- And the third big thing you need to know is I’m looking for a new personal assistant. My assistant has been with me for 14 years, she’s getting ready to retire and I’m looking for somebody energetic that can really help me as a personal and executive assistant, high demand, high pace. I’m really looking for some talent here. So if you know somebody that’s looking for a career change and is interesting and interested in applying for the job, please let me know. You know how to reach me.
Thanks again, have a great weekend. And those are the three big things you need to know. Have a great day.
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