What You Need to Know About Interest Rates

How do you know if it’s a good time to buy a home? Are you ready personally? How does the housing market with its changing interest rates affect the decisions you make?

In this episode of Beginner to Buyer host Nadeska Alexis begins by interviewing Jason Roberts, a California renter who recently experienced some of the ups and downs of the home buying process. They discuss Jason’s experience with a hot housing market and the decisions and tradeoffs he had to make at different stages and create some context to help you understand how to evaluate what you need to have in place to have success in each housing market. Through Jason’s experience listeners will get a sense of the challenges of home buying, while also gaining confidence that even when things don’t go as expected, the process itself provides lessons that can help you eventually find the right home at the right time.

Nadeska is then joined by Chase expert Andy Tisler for a primer on how the real estate market changes, what interest rates mean and how to understand your buying power. Andy also explains the benefits and drawbacks of different mortgage options, how to think about refinancing and the value of working with a Home Lending Advisor to evaluate the best options for your individual needs.

While the complexities of interest rates and the market overall can be daunting, Andy and Nadeska break down the basics to help you understand the right questions to ask and strategies to consider as you weigh your home buying options. They also discuss tools available on chase.com such as the mortgage calculator that can empower your search with information based on your situation and the current market and interest rates.

You can read the full transcript on the Chase Website