40% of UrbanTurf-Polled Homebuyers Halting Search Due to Rising Rates
✉️ Want to forward this article? Click here.
Rising interest rates are having an effect on the housing search of DC-area homebuyers.
Last week, UrbanTurf polled prospective homebuyers to see if the jump to the highest rates in 13 years had resulted in a delay in their search for a new home.
story continues below
loading...story continues above
The results were revealing. Of the buyers who answered the poll, 40 percent said that they would be putting their search on hold, while another 38 percent said that they would keep looking, but lower their budget. Only 21 percent said that the increase in rates was not changing their buying plans at all.
Long-term mortgage rates have soared in recent months, jumping from 3.92% in February to 5.25% last week.
See other articles related to: interest rates, mortgage rates
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/40-of-urbanturf-polled-homebuyers-halting-search-due-to-rising-rates/19680.
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf is re-publishing an article with updated links that is a step-by-step way t... read »
Another missing middle development has been proposed along Brookland's main throughfa... read »
Maybe it was falling interest rates or perhaps more homes hitting the market, but buy... read »
A look at the many reasons that prospective homebuyers seeing varying quotes for a 30... read »
What Metro is doing about mass fare evasion on buses; DC's rat reputation; and one of... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro