The Sibley Group at Keller Williams Realty 455-0100

Your Home For New Orleans Real Estate

  • Home
  • Sellers
    • Make a Good First Impression
    • What’s My Home Worth?
    • Determining The Value of Your Home
    • Foreclosure & Short Sales
      • What is a “Short Sale”?
      • Short Sale Process
    • Real Estate Glossary
  • Buyers
    • Find Homes For Sale
    • Get Pre-Approved
    • Making an Offer
    • Mortgage Resource Center
      • FHA Loans
      • RD Financing – Rural Development Loans
      • VA Loans
      • Construction & Renovation Loans
    • Real Estate Glossary
  • Communities
    • Northshore
      • Slidell
      • Mandeville
      • Covington
    • Southshore
      • Uptown
      • Garden District
      • Carrollton / University
      • Broadmoor
      • Lakeview
      • Mid City
      • Warehouse District and CBD
      • French Quarter
      • Marigny and Bywater
      • Metairie
  • Resources
    • Local Area Schools
    • Moving Center
    • Preferred Vendors
    • Hurricane Preparedness
    • Blog
  • Listings
    • View Our Listings
    • Search All Listings
  • About Us
    • The Sibley Group
      • Our Team
      • Reviews & Testimonials
    • Keller Williams Realty
    • Careers
    • Choosing a REALTOR
    • Client Services
  • Contact Us
  • Property SearchSearch Homes By Map
  • Listings By EmailListings Updates Sent To Your Inbox
  • Home ValuationWhat Is Your Home Worth?
  • My AccountLogin To Save Listings And Searches
You are here: Home / Blog / Are Higher Mortgage Rates Here To Stay?

Are Higher Mortgage Rates Here To Stay?

October 16, 2023 by John Sibley

Are Higher Mortgage Rates Here To Stay? Simplifying The Market

Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below):  

That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know.   

 How Higher Mortgage Rates Impact You  

 There’s no denying mortgage rates are higher right now than they were in recent years. And, when rates are up, that affects overall home affordability. It works like this. The higher the rate, the more expensive it is to borrow money when you buy a home. That’s because, as rates trend up, your monthly mortgage payment for your future home loan also increases.  

 Urban Institute explains how this is impacting buyers and sellers right now: 

 “When mortgage rates go up, monthly housing payments on new purchases also increase. For potential buyers, increased monthly payments can reduce the share of available affordable homes . . . Additionally, higher interest rates mean fewer homes on the market, as existing homeowners have an incentive to hold on to their home to keep their low interest rate.” 

 Basically, some people are deciding to put their plans on hold because of where mortgage rates are right now. But what you want to know is: is that a good strategy? 

 Where Will Mortgage Rates Go from Here? 

 If you’re eager for mortgage rates to drop, you’re not alone. A lot of people are waiting for that to happen. But here’s the thing. No one knows when it will. Even the experts can’t say with certainty what’s going to happen next.  

 Forecasts project rates will fall in the months ahead, but what the latest data says is that rates have been climbing lately. This disconnect shows just how tricky mortgage rates are to project.  

 The best advice for your move is this: don’t try to control what you can’t control. This includes trying to time the market or guess what the future holds for mortgage rates. As CBS News states: 

 “If you’re in the market for a new home, experts typically recommend focusing your search on the right home purchase — not the interest rate environment.” 

 Instead, work on building a team of skilled professionals, including a trusted lender and real estate agent, who can explain what’s happening in the market and what it means for you. If you need to move because you’re changing jobs, want to be closer to family, or are in the middle of another big life change, the right team can help you achieve your goal, even now. 

Bottom Line

The best advice for your move is: don’t try to control what you can’t control – especially mortgage rates. Even the experts can’t say for certain where they’ll go from here. Instead, focus on building a team of trusted professionals who can keep you informed. When you’re ready to get the process started, connect with a local real estate agent.

Receive A Free Guide To Buying or Selling Your Home

The process of buying or selling a home can be overwhelming at times. It’s difficult to know when is the best time to buy, or how to get the most money for your house when selling. You don't need to go through the process alone.

Our free eGuides will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying or selling a home.
  • This field is for validation purposes and should be left unchanged.

Filed Under: Blog, Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates

Homes By Price Range

Homes Under $200,000

Homes $200,000 – $300,000

Homes $300,000 – $400,000

Homes $400,000 – $500,000

Homes $500,000 – $600,000

Homes $600,000 – $750,000

Homes $750,000 – $1,000,000

Homes Over $1,000,000

Homes by School District

  • Your Contact Information

WHAT OTHERS ARE SAYING

Listened, were easy to reach, and delivered on what they promised.

Default Avatar75
Ashley, New Orleans, LA
 

I worked with Gana, OMG what a GEM !!! Gana made this entire experience pleasurable. Her knowledge, patience and go-getter attitude won me over 100%.

Avatar
Monique C Thomas
 

I worked with Gana to purchase my first home in March 2018. Gana definitely helped me out during this process. She stayed in contact with me and was very good with her timeliness on updates. She was there throughout the whole process and was very knowledgeable when i had any questions. Gana made sure I understood any documents that I had to sign before I completed the action. I would definitely recommend her!

Default Avatar75
Lamar, Slidell, LA
 

There are not enough words that can describe Lana. She absolutely made our experience of finding a home as easy and stress free it could be. Her communication skills are top notch. She answered all of our questions, which were many, in a very timely manner. She went out of her way to set up appointments and send us links for everything that we needed to get done. She did everything in a spirit of excellence. There is no other person I would want or recommend as an agent than, Lana Leonard(...)

Default Avatar75
Shawn & Suzanne, Lacombe, LA
 

I bought my first home!!! Jordan provided exceptional service. At first, I was looking to rent, but she showed me I could get more of what I needed for less if I considered purchasing a home. It is an investment in my future and I am so glad she helped me feel confident in my ability to buy a home. The Sibley Group is a wonderful team that is there for your needs and supports you every step of the way. I highly recommend them, especially Jordan. She was attentive, resourceful, knowledgea(...)

Default Avatar75
Melissa, Covington, LA
 

Mrs. Gana is quite the gem, in fact, the entire Sibley Group were all so helpful and made our first home buying experience a breeze.

We were totally lost when it came to finding a mortgage company and having a realtor with such expertise and experience really put us at ease. She set up connections with several lenders and from there we were put on a path to home ownership!

I would recommend Mrs.Gana a million times again and the Sibley(...)

Default Avatar75
Michelle, Slidell, LA
 

The decision to sell our home and to use the Sibley Realty Group was a year long process. We were concerned about determining the right time to sell and determining a fair and appropriate asking price. We had questions about how to adequately prepare our home for photos and showings. We were concerned about security and showing our home while we were away on vacation. John Sibley addressed all of our questions and concerns. He walked us through the process from listing to closing. He was a(...)

Default Avatar75
Annemarie & Jerry, Slidell, LA
 

We were having troubles trying to figure out the particulars of buying a house and were a little intimidated about approaching a Real Estate agent. Those fears were put to rest after meeting Gana.

She not only guided us through the entire process, but made it a point to go over the contract with verbiage that we understood as first time home buyers- that was important.

The entire experience was smooth, as she laid to rest any fears we(...)

Default Avatar75
Willliam, Slidell, LA
 

Everyone at the Sibley Realty Group was exceptional. From the first phone call to the closing of the home we had the best service. I would recommend Jordan and her team to anyone. Awesome Job Guys! And thanks again.

Default Avatar75
Anonymous, New Orleans, LA
 

Gana made this transaction easy to understand for us as first time home buyers. Gana was very in tune with us when she could tell I didn't understand something. She slowed everything down and made sure I understood before we moved on.

Default Avatar75
Anonymous, Slidell, LA
 

From Our Blog

Why You’ll Want a Home Inspection

Some HighlightsOnce your offer is accepted, an inspector will assess the condition of the house, … [Read More...]

Housing Market Forecasts for the Second Half of the Year

From rising home prices to mortgage rate swings, the housing market has left a lot of people … [Read More...]

About Us

The Sibley Group has a team of Realtors to meet all of your real estate needs throughout the New Orleans Metropolitan area. We have agents that specialize on the Northshore and Southshore, including New Orleans, Slidell, Metairie, Covington, Mandeville, Pearl River, and Lacombe.


Trust a real estate team with a long-standing tradition of service, expertise, and professionalism in the local area.


John Sibley reviews
The Sibley Group
Keller Williams Realty 455-0100

3197 Richland Ave, Metairie, LA 70002

Northshore: 985.326.9755
Southshore: 504.571.9755
Broker: 504.455.0100

From Our Blog

Why You’ll Want a Home Inspection

Some HighlightsOnce your offer is accepted, an inspector will assess the condition of the house, … [Read More]

Housing Market Forecasts for the Second Half of the Year

From rising home prices to mortgage rate swings, the housing market has left a lot of people … [Read More]

Search Links

  • Search Listings
  • Search by Map
  • Login






Keller Williams Realty Professionals

The name of the company is Keller Williams Realty 455-0100.
Each Office is Independently Owned & Operated.

Broker & Associates are licensed by the State of Louisiana.
Copyright © 2019 All Rights Reserved