Join us as Alfredo and Monica Cavazos have a quick interview with Kristi from Mid America Mortgage. Learn what home buyers should be thinking about as interest rates are set to go up.
Full audio transcription
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hello everyone hope
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everyone is doing well
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today and
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just wanted to come to you and i wanted
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to let everyone know that as of today
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this is our first interview with
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our strategic partners
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so today we have my beautiful wife
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monica here and we have Kristi with
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mid-america mortgage hi everybody how
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are you today
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so i’m Kristi Hernandez with
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mid-american mortgage i’m a senior loan
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officer and i actually i take care of
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all over texas i’m licensed all over the
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state of texas so i’m on here today
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talking with alfredo and monica about
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rates thanks Kristi thanks this is
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something that actually
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affects a lot of buyers in the market
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today we actually have personally we
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have
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clients that
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are looking to buy and so hopefully this
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helps you guys and so yeah we’ll
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get into it
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so christy with the new year upon us
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you know 2022 hopefully
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we’re having a great start to the
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year what can you tell us about interest
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rates and any changes that are coming
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this year that’s a great point so this
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year the fed has announced that they are
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going to raise the rates minimum three
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times minimum three there may be a
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fourth they’re going to raise them three
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times minimally in 2022 they’re going to
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raise them twice in 2023 and they’re
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going to raise them a fourth in 2024. so
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they’re raising we don’t know the dates
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we haven’t been shared the dates of when
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the rates are going to go up or where
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they’re going to increase rates
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typically would be that an eighth could
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be a little higher and an eighth of a
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difference can really change your
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payment maybe 15 a month depending on
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the price point that the buyer’s in
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but the most important thing is yes they
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are going to go up but as we kind of
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chatted before we’ve owned a home before
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and
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we bought my first home my husband
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and i’s first home was back in 99 and we
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got 10
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and you all mentioned that it was the
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same year we around the same time and we
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had a nine and we were excited that it
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was under ten so yeah nine percent were
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like awesome yeah so when i became a
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loan officer in 2007 rates were at seven
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and a half seven and a quarter and they
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were starting to trinkle down to 6.99 so
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i say that to say that a lot of buyers
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of this time frame don’t remember those
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dates
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they’re new they’re first-time home
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buyers or in their 20s and 30s and you
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know that was what 20 something years
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ago
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so with that being said
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it is going to happen but what do we do
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the best thing to do is get with your
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real estate agent get pre-qualified
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if you’re thinking about buying take
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advantage of it now take advantage of
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what the rates are now and then if
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you’re going to hold off
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then get with your agent let’s have a
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conversation let’s get your nbers
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there so you can see we don’t know when
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it’s going to happen but it is going to
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happen absolutely that’s that’s a great
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point Kristi because
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i’ve had several conversations with
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clients that you know i mean rightfully
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so they’ve come to us and they said you
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know
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we want to wait and and see if the
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seller’s market turns into a buyer’s
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market because i mean i’ll be honest the
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the the buyers that we’re dealing with
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it’s it’s been it’s been a challenge
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because
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i mean we’re having a deal with multiple
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offers we’re having to go above a list
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price we’re having to
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waive appraisals and so i know i’m
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talking a lot of jargon yeah and it’s
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gotten a little better than that this
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past smer but you know we’ll still run
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into those challenges yeah they’re
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always going to be some kind of
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challenge when it comes to the market
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rates are going to go either up or
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they’re going to go down it’s either
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going to be a buyer’s market or a
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seller’s market those are the things
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that you and i
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we’re dealing with every day sure but
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for the everyday person the thing i
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would say is trust your agent trust the
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kobash’s team trust the agent that
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you’re with and let’s just write this
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part together because we’re going to see
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how it goes
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if if it’s during if they haven’t made a
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rate increase great let’s see what the
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market’s doing right now and then
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go with that part absolutely absolutely
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okay well we’re actually going to go
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ahead and close up Kristi do you want
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to give your phone nber
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so i’m the hernandez home team you can
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reach my office at 281
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and you can always reach me my cell
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phone 832-331-1685
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thank you Kristi and we’ll upload that
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information as well to our website and
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video and if you want to know more about
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the buying process don’t hesitate to
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reach monica or myself
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we’ll upload our contact information as
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well thanks guys y’all have a good one
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thank you Kristi thanks
You can find more videos about the Houston housing market and real estate on our YouTube channel.
