With his blog post yesterday and his market predictions for 2014, PT Vineburgh was featured on the popular site, BostInno yesterday. The article ponders whether or not current renters who are on the cusp of buying their new place are likely to make the plunge or not next year. With the uptick in mortgage rates, PT suggests that these individuals may hold off another year.
“If interest rates are up even a half point, that’s an extra four or five hundred bucks a month,” for new owners, Vineburgh told BostInno.
Coupling this with a potential lowering of rates in Boston’s luxury rental market, and you may see people renting just a bit longer.
