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40% of UrbanTurf-Polled Homebuyers Halting Search Due to Rising Rates

  • May 23rd

by UrbanTurf Staff

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.

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 https://dc.urbanturf.com/articles/blog/40-of-urbanturf-polled-homebuyers-halting-search-due-to-rising-rates/19680.

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