Tuesday Trend Report: Interest Rates

#TuesdayTrendReport The New York energy this fall is officially back. The revival of the city is back in full force. And it's totally apparent with top talent back in the office; restaurants are packed like never before.

The market has been correcting itself for the last couple of months, and we are starting to reach a more balanced supply and demand. However, some buyers have become a little more hesitant in the last couple of weeks due to rising interest rates. My response to them is not to hesitate; there are various pros: less competition in the market presents better opportunities. You also might not know how high the rates could go up next year- so if you find something you like, purchase it. And finally, you can always refinance your mortgage.

No need to fear because we are nowhere near a housing crisis. We are just going through the ebs and flows of a resetting real estate market.