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How Will Rising Mortgage Rates Affect the Real Estate Market?

During the past month, mortgage rates have moved quite a bit higher off their historic lows in the low 3% range. Read about rising mortgage rates.

Before you hit the panic button and think that you must buy quickly before they rise even higher, take a deep breath. The housing market has been the spark that has brought the economy out of recession, and, in my opinion, the Fed is not about to kill the goose that laid the golden egg.

In any event, there are other good reasons to buy sooner rather than later besides taking advantage of historically low interest rates. Home prices have been moving higher, and most predictions favor a continuation of the upward price movement we’ve been seeing for the last 12 months.

If you are ready to buy now, please give us a call or drop us an email, and we’ll be happy to help you.

Aloha,

Ken

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About The Smith Team

Ken Smith, a Maui resident for 35 years, brings his extensive local knowledge and passion for the island to his successful real estate career. Alongside his daughter-in-law, Melissa Smith, and Greg Smith, the Smith Team provides a wealth of experience and dedication to clients seeking to buy or sell property in Maui.

Melissa Smith, a third-generation Maui native, combines her deep understanding of the island's growth with a commitment to exceptional service. She empowers clients with knowledge to make informed decisions in finding their dream homes. With a background as a top agent and a Broker's license, Melissa's expertise is invaluable.

Gregory P. Smith, a lifelong Maui surfer, channels his passion for the island and its natural beauty into his real estate profession. His enthusiasm, deep market knowledge, and dedication to exceeding client expectations make him an exceptional agent.

The Smith Team's combined local expertise, commitment to client service, and understanding of the unique Maui real estate market make them an ideal choice for those looking to navigate the island's property landscape. Their proven track record ensures a smooth and successful experience for both buyers and sellers.