Vince Thoms from Equity Solutions Northwest answers a couple of questions.

I sat down and talked with Vince Thomas, the owner of Equity Solutions Northwest. He’s a mortgage broker I’ve worked with for about eight to 10 years. I asked him a couple of questions about the future of our real estate market:

What do you think interest rates are going to do? 

I always get asked by clients and even people at the grocery store, what I think about interest rates. They’re really asking if they will rise, and I have to say I think they will. We don’t know when for sure, but they’ve been at historic lows for a long time, even longer than I thought they would be.

Is inflation on the rise? 

If inflation sticks around, this ties into interest rates and rates will go up. There’s a lot of conversation about inflation rates at the moment. A lot is being done to stimulate the economy, and as everyone knows, gas has gone up, shipping has gone up — I can’t think of a single industry that hasn’t gone up. If these increased prices stick around, that will be inflation.

Hopefully, this was helpful to you. If you have any questions about real estate, don’t hesitate to call or email me; my advice is always free. I look forward to hearing from you.