Interest Rate Impact | WBBM Real Estate Feature | Chicago Association of REALTORS®

Each month, we release a series of PSAs through WBBM Radio to help home buyers and sellers make informed real estate decisions. Each feature includes specialty advice from real estate experts, voiced by past president Matt Silver, Urban Real Estate. We encourage you to share these with your clients!

Interest Rate Impact

Knowing your interest rates will help you make the right choice between a fixed-rate mortgage, an adjustable-rate mortgage, and refinancing. Interest rates are generally based on the US Federal Reserve, the health of the economy, and the rate people are saving money. How does this affect you? With low interest rates, a seller may find eager home buyers accompanied by more competition. On the other end, higher interest rates may slow down the market and disperse interested buyers.