Recently, interest rates in Reno, Nevada have been steadily going up. Back in 2013, we saw a positive response with rates. As you may know, rates are driven by the bonds, and our market is very emotional. Many people want to protect their money, pull it out of the stock market and invest in bonds. And since the stock market was thriving so much in 2017, we’re seeing a stead increase in rates.
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So how does this impact the consumer? We recommend you just try to be aware and educated as much as possible. You might not see rates in the 3’s again or even the low 4’s. This may not last, and we may continue to see a roller coaster effect. But the bottom line is that, as a consumer, you must do your best to stay informed.
If you know anyone who needs to refinance or purchase a home, please contact us to learn more!