How real estate consumers feel about the Federal Reserve’s recent interest rate increase may depend on whether they already own a home or are planning to buy one, according to a recent Berkshire Hathaway HomeServices survey.
- Berkshire Hathaway’s latest Homeowner Sentiment Survey was conducted weeks before the Fed announced the interest rate hike and involved interviews with about 2,500 current and prospective homeowners.
- The results showed that most homeowners aren't concerned about the Federal Reserve's rate increase.
- Prospective buyers, on the other hand, expect to experience more difficulty in affording their ideal property.
- Agents should take care to educate buyers and sellers about the real estate process and mortgage rates.
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