Page 10 - DUTIES OF A REAL ESTATE AGENT
P. 10
MARKET OUTLOOK
(CAPECOD)
The focus for 2019 for many prospective homeowners is shifting to the subject of affordability. By historical standards rates are still fairly low in the mid 4% range. In 2018, we saw rates start the year near 4% then increase all the way up to 5% then back off a bit to where we are now.
The overall projection is for rates to rise again in 2019 and indeed they have. These increases translate to tens of thousands of dollars in interest over the life of a 30-year loan. These increases mean many would-be buyers are now squeezed out of the market due to inability to qualify any longer. This is the start to the next shift.
