Are you feeling trapped by a historically low mortgage rate? You are not alone.
Trevor Halpern, the number one independent agent at eXp Realty in Phoenix, recently sat down with John Hook on @Fox10Phoenix to discuss the current state of the Phoenix housing market.
Are you feeling trapped by a historically low 3% mortgage rate? You are not alone.
Many homeowners across Phoenix are facing the same difficult decision. Interest rates today are higher than what many buyers locked in just a few years ago.
Trevor Halpern, the number one independent agent at eXp Realty in Phoenix, recently spoke with John Hook on Fox 10 Phoenix. He discussed whether it still makes sense to give up a 3% mortgage rate in today’s housing market.
In the interview, Trevor breaks down the financial tradeoff homeowners face when considering a move. Leaving behind a low fixed-rate mortgage can significantly increase monthly payments.
Additionally, he explains that today’s mortgage rates are closer to long-term historical averages. This helps put current market conditions into perspective.
For homeowners with a 3% mortgage rate, this creates a major gap between existing loans and new financing options.
Trevor also discusses supply and demand in the Phoenix housing market. These factors play a major role in whether selling makes financial sense.
In many cases, the decision comes down to timing, affordability, and long-term goals.
If you are considering whether to move or stay with a 3% mortgage rate, expert guidance can help you make the right choice.