30 Percent of Home Buyers Halt Search Due to Rising Rates
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 in rates this year (most recently to seven-year highs) 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, 30 percent said that they would be putting their search on hold because of rising rates, while 47 percent said that they would keep looking. (23 percent were unsure how the rate spike would influence their decision.)
Long-term rates have risen for 15 of the last 21 weeks, so the decision to put a search on hold may not have been one that was spurred on just by rates hitting their highest level since 2011 in the last couple weeks. Still, there is clearly a hesitation for some buyers who have grown quite accustomed to interest rates at or below 4 percent.
See other articles related to: interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/30-percent-of-home-buyers-halt-search-due-to-rising-rates/14039.
Most Popular... This Week • Last 30 Days • Ever
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Today, UrbanTurf is examining one of our favorite metrics regarding competition in th... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
- The 4 Projects In The Works Near DC's Starburst Intersection
- What Are the Annual Maintenance Costs When You Own a Home?
- The 6 Places In The DC Area Where You Aren't The Only One Bidding On a Home
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
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