As a Real Estate Broker, it's crucial to understand that interest rates are a key factor in the real estate market. When interest rates rise, it impacts not just the macroeconomic landscape but trickles down to the day-to-day life of homeowners. Mortgage Payments A higher interest rate means that new homebuyers will have higher mortgage payments. Existing homeowners with variable-rate mortgages will also see their monthly payments rise. This can strain budgets and force people to cut... [read more]