Rising Interest Rates-Should I Buy a Home Now?

Shaking hands with realtorIn today’s market we have seen a shift with rising interest rates. This rise has occured over the last 30 days or so due to the Federal Govt deciding to “taper” off the bond buying program that has caused rates to remain below 4% for much of the last 12 months.  The rising interest rates have had little impact on home buyers in the Northern Virginia/Washington DC market as the lack of inventory is causing people to still purchase homes as fast as they can find their way onto the market.  Many potential home buyers are still wondering how this will affect their buying power going forward? This is a great question! Here are why it is still a great time to purchase a home with rising interest rates!