Interest Rates Could Rise
Just in the last month, the American stock market has surrendered a stunning $2.1 trillion in value. To put those losses into perspective, that’s roughly the combined market value of Apple, Google, Berkshire Hathaway, Exxon, Mobil, Facebook, Walmart and 21st Century Fox.
The enormous losses reflect the deep fears gripping markets about how the world economy will fare amid China’s economic slowdown.
This uncertainty in the market could very well impact the real estate industry in the near future. We could see higher interest rates, which could slow our real estate market here in Colorado. If you are thinking of buying, now is the time to lock in your interest rate so you can afford a larger home now.