So it finally happened. For the first time since the year 2000 mortgage interest rates have hit 8%. On top of that, home prices in Northern VA are at all time highs, the best of the best homes are still getting multiple offers, and Housing affordability is so bad that Zillow says it will take you 13.5 years to break even on a purchase. This is not a sustainable scenario and something has to give. So Is this the end of the housing market and we know it? In this video I’ll share with you how 8% mortgage rates affect your home purchasing power and go over if right now the absolute worst time to buy a home.
(Disclaimer…I have my FAA Part 107 Drone License)
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David Massey-Real Estate Agent
Real Broker, LLC
1765 Greensboro Station Pl Ste 900,
McLean, VA 22102
