- Interest rates have risen. Have you put your housing buying on hold?

Don't. Let me tell you why. I'm Lydia Gable with Compass, and we are working with our lenders to get very creative. There are programs out there for you that are called 2/1 or 3/2/1. And what does that mean? It means we're having the sellers pay to buy down your interest rate by two points.

So in the first year, for example, if the current interest rate you're getting quoted is 7%, a seller can buy that down two points to 5%, and then one year later, it goes up to 6%. And now you've got two years that you're waiting for the rates to come down so you can refinance.

We all know these rates are temporarily very high. They are going to come down, so you will be able to refinance. So it's a great time. You're not competing with a lot of buyers. You get to choose properties that you might fall in love with, get out of the high rents, move up, great opportunities. The important point is if you're wanting to buy, get in touch with a strong agent and a strong lender so that we can get creative to get you in your next home.