Will the National Interest Rate Increase Affect the Quad Cities?
According to recent reports from multiple media outlets this morning, the United States Federal Reserve is projected to increase the national interest rate for the seventh time and final time this year in an effort to combat the country’s ever-rising inflation.
Although the national mortgage rate is down to 6.33% from its peak of 7.08% in November - the highest in over a decade - the real estate “ball” has been in the buyer’s court for the past twelve months primarily due to the shortage in supply of homes for sale coupled with the increasing demand and desire from the next generation of potential homeowners. Thankfully, this half-point uptick is expected to restore a bit of balance to the national real estate market and even the playing field for both sellers and buyers, which is something we certainly support here at The Bassford Team.
Since 2014, Rich Bassford along with the knowledgeable & personable professionals at The Bassford Team have been working diligently to provide quality real estate services to the Quad Cities and surrounding communities. We have an exceptional selection of single-family homes, residential lots & land, new construction homes, condos & townhouses, and luxury listings available throughout the greater QC area and are happy to schedule a showing at your earliest convenience.
For assistance with selling your Quad City home, The Bassford Team also provides the guaranteed sale program, which has been completely customized and designed with the seller’s needs in mind. Simply put, when you select the guaranteed sale program, The Bassford Team will place your property on the local real estate market for its full estimated value. This gives the seller the opportunity to receive the maximum profit for their property. That said, if the house does not sell, The Bassford Team will then purchase the property from the current homeowner for a price that is predetermined in the contract. It’s a win-win in our opinion.
Contact Us Today!
As we move forward into the last few weeks of the year, The Bassford Team would like to take this opportunity to express our deepest appreciation and gratitude to our clients and everyone else throughout the Quad Cities who have played crucial roles in our company’s success.
If you would like additional information about buying or selling a house in the Quad Cities, please fill out a quick & easy contact form located on our website. To speak with a member of The Bassford Team directly, please call our office at (309) 292-3681.