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.
This article originally published at https://dc.urbanturf.com/articles/blog/40-of-urbanturf-polled-homebuyers-halting-search-due-to-rising-rates/19680.
Most Popular... This Week • Last 30 Days • Ever
The storied unit along P Street is now looking for a new owner.... read »
There are five projects in the works around Audi Field which could bring nearly thous... read »
TideLock is a mixed-use development that will consist of 169 apartments and 65 condom... read »
DC is getting close to meeting Mayor Muriel Bowser's goal of producing 36,000 new ho... read »
The share of homes priced above $1 million continues to rise in the city.... 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!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro