How to Time the Chicago Market

Dave Nimick Chicago Real Estate Podcast

What does it take to time the Chicago market? Here’s what I think.

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The reason so many people want to time the market is to get the best possible deal. The challenge with timing the market right now is that interest rates have been trending upwards. Even though they have been quite low for a while, the economy is stronger and the Fed has said they want to raise rates. Because of this, you should assume rates are going up, not down.

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If rates dip, that dip won’t last long.

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If you wait for rates to go down, you’ll probably just end up costing yourself more money as a buyer when they inevitably increase. If rates do dip, that dip won’t last. As a seller, waiting will affect your available pool of buyers. Deciding to wait could cost you substantial dollars out of your pocket.

Will you think that you missed out on a 4.5% rate when the rates are up near 6.5%? Of course you will. If you’re interested in locking in a low rate now, give me a call or send me an email. I’m happy to answer any questions you may have.