Early in 2024, experts were hoping to see interest rates decline slightly, but now that we have seen an increase this week, what does it mean for the real estate market? The real estate market is heavily influenced by interest rates. When interest rates are low, it becomes easier and more affordable for individuals to borrow money to buy homes or invest in properties. On the other hand, when interest rates are high, borrowing becomes more expensive, and the real estate market can slow down as a result. One of the most significant impacts of interest rates on the real estate market is on housing affordability. As interest rates decrease, mortgage payments decrease, making homeownership more accessible to a larger portion of the population. As a result, low-interest rates can create a surge in demand for homes and lead to bidding wars and rising home prices. Low-interest rates can also make it more attractive for real estate investors to purchase properties. When borrowing costs are low,
