Page 15 - April 2022 Issue.indd

payments that pumped trillions of 1991. Double digit interest rates for 12 the same loan amount or lower the
dollars into taxpayer bank accounts that years! We certainly have been spoiled, prices they are willing to pay.
were used to chase aft er fewer goods or lucky these last 40 years! For now, buyers are willing to pay
available due to pandemic shortages
Mortgage rates have increased 1% to more for the same loan amount but if
and delays. Add to this the elimination
1.5% since the end of the year putting rates continue edging closer to 5% it is
of $500 Billion in trade with Russia and
we have a perfect structure for sustained pressure on home buyers to either possible they may lower the amount
accept a higher monthly payment for they are willing to spend. I believe for
infl ation.
Businesses already struggling to find
and keep employees will continue to
be challenged with having to pay more
in salary and benefits. As of the end of

January there are 11.3 million available
jobs and only 6.5 available job seekers,
which is a record, and nearly two
available jobs for every person actively
looking for one. Not to mention that
there were 4.5 million workers who

permanently left the work force in 2021
by retiring or otherwise determining
that they could live fine without the
hassle of having a job.
As consumers we will need to adjust
our spending accordingly, and many of

us already have. Those of us who were
around in the late 70’s and early 80’s have
experienced inflation and incredibly
high interest rates. Remember when the
prime rate peaked at 21.5% in December
1980? And 30-year mortgage rates were
18.5% in October of 1981? Believe it or
not 30-year mortgage rates were over
10% from January of 1979 to January of

Still hunting for the perfect home?

BRENTON REALTY GROUP CAN
HELP YOU FIND ONE TODAY!

10794 Greensboro Road
Denton, MD
410-479-4663
www.TheBrenton

Kathleen Brenton Barbara Beaudet Amanda Morgan RealtyGroup.com
Broker/Agent Agent Agent
Cell: 410-829-3430 Cell: 410-829-2881 Cell: 410-200-5842
kathleen.brenton barbarabeaudet amorgan.brg
@gmail.com 2016@gmail.com @gmail.com

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