Sellers are growing reluctant to sell as mortgage rates rise

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Sellers are growing reluctant to sell as mortgage rates rise

Jenafer Ramsaran and her husband are facing what is becoming a growing problem for sellers in today’s market: record-high interest rates making it not only difficult for them to sell their home, but also leaving them wondering whether it’s worth it to lose their lower interest rate.

The couple is looking to sell their four-bedroom home in Weston to upsize to one with a few extra bedrooms on at least an acre of land to allow for enough room for her in-laws to move in with her.

So far, their home has been listed for 30 days, but hasn’t sold, despite two price reductions. For the couple, it’s already been a battle to convince themselves it’s worth moving, given today’s environment of high interest rates.

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