Although interest rates are still low, the recent rise in home prices is affecting home affordability.
Is National Housing Market Making A Major Shift? For Baton Rouge, Remember That ALL Housing Markets Are “Local” and you can’t apply everything your hear or read about national market to the local market!
USATODAY.com has a new article about the possible major slowdown in home sales as mortgage rates are expected to rise in the coming months, see “www.usatoday.com” red link above to read their article. Could this happen to the Baton Rouge Housing Market? Absolutely! When mortgage rates climbed to 4.6% to 4.9%, the local market did cool a good bit, which honestly was scary for me.
100’s of Billions In Industrial and Petro Chemical Investment Into Baton Rouge. However, Greater Baton Rouge has received so many announcements over the past 1.5 years about hundreds of billions in Petro Chemical and Industrial expansion investments providing more and more jobs, new restaurants and will spur more housing demand. Hopefully, as mortgage rates inch upward, the onset of a hot local jobs market will help us through rising interest rates. Bill Cobb, Greater Baton Rouge’s Home Appraiser
See on www.usatoday.com