No doubt, you've already heard about home mortgage interest rates rising - sharply. The question for Buyers and Sellers will be: How does this affect St. George Real Estate? And WHY are interest rates rising? 

Here's a quick answer:

1. It affects the St. George Real Estate market...any any OTHER market for that matter, in one NEGATIVE WAY, and still another POSITIVE way. How?

Negatively, it will impact some St. George Real Estate transactions immediately as the Buyers will no longer be able to afford the home. The Sellers then suck wind because they have to start process of finding a home Buyer all over again.

So Jeremy, what’s the upside? Here you go:

Positively, the St. George Real Estate market gets a boost because of the MOTIVATION this change causes. We’ve been warning home Buyers and Sellers for at least 6 months on the GoStGeorge Radio Show that rates would eventually be rising. And they did. Many people who were sitting on the fence will not just get off, but will LEAP from that fence to quickly take action – buy a home, sell a home, refinance a home. This puts more money into St. George Real Estate market immediately, causes still MORE Buyers and Sellers to take action, and on it goes.

2. Why is this happening? Simply, the Government has spent BILLIONS to keep mortgage interest rates artificially low - like keeping the economy on life support, and that included St. George Real Estate market. It can't last forever, and as the economy improves (good sign), they're slowly tearing the band-aid off rather than ripping it off and allowing rates to go from 3.5% to say 6% overnight. 

So rising Home Mortgage interest rates a GOOD or BAD thing? Both. And most importantly, a REAL thing. Real Estate markets never stay static, and the St. George Real Estate market is no different.

Wondering if your home can be sold in this market? Reach out to us directly for a (free) personalized “Pin-Point Valuation”, or just click on the link below for a “quick and dirty” St. George home value estimate: