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andreyandreev [35.5K]
1 year ago
6

with interest rates rising, why do you believe purchasing a home can be one of the most stressful experiences for people? explai

n your answer.
Business
1 answer:
Illusion [34]1 year ago
8 0

While high interest rates typically have the opposite effect, low interest rates tend to promote property demand and raise prices.

<h3>How do interest rates affect home buying?</h3>
  • They affect the price of real estate and how much we will have to spend to borrow money to purchase a property.While high interest rates typically have the opposite effect, low interest rates tend to promote property demand and raise prices.
  • The cost of a property has increased due to higher mortgage rates, but there is less competition because of the decline in demand.This allows purchasers the chance to negotiate a lower purchase price, have closing expenses covered by the seller, or pay mortgage points to lower the high interest rates a little.
  • So much so that 37% of respondents said it was more stressful than finding a job (28%), organizing a wedding (23%), or even having a child (18%) to buy a property.
  • In the current housing market, purchasers still confront several difficult obstacles, including high property prices, high mortgage rates, and a dearth of available properties.However, the ferocious housing market rivalry of recent years has somewhat subsided.Buyers have greater freedom to bargain because there are fewer bidding battles.

To learn more about interest in home refer

brainly.com/question/501927

#SPJ4

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