Interest rates are always fluctuating. Lately they have gone down then increased and this has happened over and over. It's like for every step foward there are two steps backward.
While interest rates go up for lenders this actually has no effect on private interest rates when the seller decides to finance. When interest rates go up it becomes a buyers market. This is because less buyers want to buy with high interest rates so properties do not sell as fast.
Sellers can offer low interest rates when selling on a land contract. By selling this way the buyer can save a ton of cash in the long run and the seller can get rid of the property quickly.More Articles