How Interest Rates Affect affordability of Beacon Hill condos

When I first sit down with a client interested in purchasing a Beacon Hill condo for sale, we always have to address the issue of affordability.  After all…no matter what you like in terms of personal preferences…the value of Beacon Hill Condos will always be tied to it’s affordability.  For the last year and a half…interest rates have been artificially low in the mid to low 4% range. Currently, the interest rates have “jumped” up a bit and are now in the mid-high 4% range.  Many of our lending partners are calling the high end of 4% interest rates the “new normal”.  They and other experts expect the rates to continue in rise thorough 2019  for quite some time now in order for the housing market to continue to support national economic growth.

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