The real estate market in Baton Rouge shifted in what felt like overnight in mid-June. Where does that leave local home buyers and sellers? We are here to help you break it down.
In mid-June, the Feds raised the interest rate by .75 percent, and we all had a collective freak-out moment. What in the world will happen to the real estate market? First things first … the Federal Reserve does NOT set mortgage rates, but key players in the mortgage industry keep a close eye on the Fed. There will likely be more mortgage rate hikes, but they will not be all at once and will likely not be full three-quarters of a point. We anticipate mortgage rates to top out at 7 percent or maybe a little over by the end of 2022. The biggest jumps in mortgage rates have already happened, and we believe things will start leveling out. Click here to read how these market shifts can impact you.