HappySeniorHomeOwners Blog

More Inflation Bad News!!!

February 24th, 2022 6:53 PM by Juan Luis Rodriguez-Kohly

And,
 Inflation Bad News
 Keep On Coming!!!

The Fed, last week, announced that they will INCREASE interest rates at least, THREE (3) times in 2022!!! 

The 1st one should come in March!!!


Inflation is between 7%+ and 9%+. Now add the Price of Gas which  will increase with suspension of oil imports from Russia now that war has started. Economists state that it will be a long time before Inflation goes down!!!

 

This will impact your daily life in many ways. The Price of Food at the Market, the price of Gas at the pump, the Price of Clothing on the store, etc... Especially hit will be Credit Card, Adjustable Rate Mortgages and Lines of Credit Payments.

 

Sales of homes will go down and so will appraised values.

 

For New Reverse Mortgage and FHA or Conventional Mortgages Borrowers it means that the appraised value of your home will be lower and proceeds (higher interest, less funds) will be lower too. So if you have been postponing doing it, don’t wait any longer,
 CALL ME TODAY 

786-262-6486

 



Posted by Juan Luis Rodriguez-Kohly on February 24th, 2022 6:53 PM

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