Where would RATES need to be for you to refinance or sell your property? 2%,3%,4%?

[Kenny Simpson]

I keep hearing that everyone feels stuck with their low rate.  What is the MAGIC rate do you think for you or others need to be at to sell or refi?

[Trevor Schmitt]

Quote from @Kenny Simpson:

I keep hearing that everyone feels stuck with their low rate.  What is the MAGIC rate do you think for you or others need to be at to sell or refi?

Hi Kenny, a couple of thoughts on this...

- Personally, I think a healthy and sustainable market has interest rates around 5.5% - 6%. With recent inflation numbers becoming more friendly, we are hopefully close to the peak of rate hikes. If the trend continues, they should come back down a little bit to a more sustainable range. 

- There is a high probability that rates do not come to 2%, 3%, or even 4% for a very long time... possibly decades. 2% - 3% interest rates were a complete anomaly.  

- The market will eventually get used to the more "normal" rates in due time, and then feel more comfortable making a move as such.

- Most importantly is the fact that some people NEED to sell, and the interest rate is rather irrelevant... whether it be for financial reasons, work, or potentially a growing family... people NEED to buy/sell every day.