Allen Brake's November/December Market Forecast

It’s happening. I’ve been predicting a rise in interest rates, and we’ve gone from 2.55% in early August to 3.14% at the end of October. This should be a sign to potential buyers that now is the time to get into the market. For each 1% in interest rate increases, a buyer loses 10% of their purchasing power. My forecast is for rates to continue to climb throughout 2022, likely higher than 4%. 

Buy now. That’s what I would do. 

Allen Brake is the founder and CEO of The Allen Brake Team, the No. 1 team in the No. 1 real estate office in the St. Louis region. He has been in the real estate industry for nearly two decades and is regularly recognized as one of the regions top-performing Realtors.