I had been looking at buying a smaller house, but the offer we made in Feb fell through. We have looked at building a house on a lot, but I was expecting in April to have until August to get a low interest rate. I hadn’t expected rates to go up this much in just 6 weeks.
We haven’t quite yet settled on a floor plan, so it may go up enough to put us out of the market...at the rate it is going, 7% or more by late July?
Lock in a rate now - some locks are good for 90 days. If you can lock in a 7% and rates go up to 11% you’ll feel like one lucky person.