are on the fence? so, we may see like more more renters to continue to be the rental properties that they have. however, buyers should consider reducing the price point for the search home if they don t want to go over their budget. like in the meantime, data shows that as we mentioned before, they re willing to reduce prices. and also they should also think about broadening their home search to areas that are more affordable. they may look like for a home to the the next county where homes are still more affordable and less expensive in that area. and they also have to do their research the search about what mortgage product is right for them. so, for first-time home buyers, usually spend about five, seven years to the first home. and five-year arm adjustable rate mortgage might be a solution for them since the rate there is lower than the 30-year fixed mortgage rate.
january. we have got a lot of rate hikes in front of us. they are very clear about that, and they are going to follow through. this is going to impact americans in so many different ways, trying to buy a car, a home, perhaps you have credit card card debt. yeah. yes. particularly credit card debt. that s tied directly to what the federal reserve is doing and the rate increases that they are putting into place. a personal loan, you are going to see the rate go up. home equity line of credit, you will see your rate go up. of course, if you need to borrow money for anything like a new car or if you want to certainly for a home, you will have to pay a lot more in interest. the mortgage rate, the 30-year fixed mortgage rate is now over 7%. just to put that into context, if you go back a year ago, it was below 3%. so that s a big difference and makes a big difference in terms of the monthly payments. have a listen to what