{"id":153700,"date":"2023-06-05T14:35:25","date_gmt":"2023-06-05T20:35:25","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=153700"},"modified":"2024-02-27T10:26:15","modified_gmt":"2024-02-27T17:26:15","slug":"buckle-up-interest-rates-are-only-getting-worse-from-here","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/buckle-up-interest-rates-are-only-getting-worse-from-here","title":{"rendered":"Buckle Up Investors\u2014Interest Rates Are Only Going to Get Worse From Here"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC2152518534\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n\n<p><span data-preserver-spaces=\"true\">By most accounts, the Fed will hold steady after raising the federal funds rate by a quarter point&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.forbes.com\/advisor\/investing\/fomc-meeting-federal-reserve\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">to 5.25%<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;at the beginning of May.&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.reuters.com\/markets\/us\/fed-keep-rates-untouched-this-year-risk-us-default-high-2023-05-17\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">A&nbsp;<\/span><em><span data-preserver-spaces=\"true\">Reuters&nbsp;<\/span><\/em><span data-preserver-spaces=\"true\">poll<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;found that 102 of 116 economists thought the Fed was done raising rates this year, and 30 believed they would lower it.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">With inflation down from its high of over 9% last year to&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/tradingeconomics.com\/united-states\/inflation-cpi\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">4.9%<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;in April of this year, it might seem like the Fed should reverse course now. But as Michael Gapen, chief economist at Bank of America, noted, \u201cInflation is more than double the Fed&#8217;s target rate, and the unemployment rate is below every FOMC participant&#8217;s estimate of the natural rate.\u201d&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Still, with inflation halving over the last nine months,&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/are-banking-failures-going-to-cause-another-2008-like-crash\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">several recent bank failures<\/span><\/a><span data-preserver-spaces=\"true\">, and&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.bankrate.com\/banking\/federal-reserve\/economic-indicator-survey-recession-risks-april-2023\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">warning signs of a recession<\/span><\/a><span data-preserver-spaces=\"true\">\u2014that many, including myself, have been predicting for a year\u2014still being present, there are a lot of reasons to think the Fed will begin reversing course on rates. If not at the end of 2023, then probably in 2024.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Economic predictions are always something to be wary of, but with that caveat in mind, I would be willing to bet interest rates will be lower in May 2024 than they are today. In the short term, things look good for interest rates.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In the long term, however, not so much., which is what this article is about<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">The Coming Upward Pressure on Long-Term Interest Rates<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">If you spend much time in real estate investing forums, you\u2019ll hear something akin to \u201ceven now, interest rates are low by historical standards.\u201d A lot of the old timers like to reminisce about \u201cback in the day\u201d when they had to walk to school several miles uphill in the snow both ways and how \u201cwe don\u2019t know how good we have it\u201d and the like.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">And the old timers (whom we\u2019ll be talking about more shortly) are right. Just glancing at the average&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/fred.stlouisfed.org\/series\/MORTGAGE30US\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">30-year mortgage rate<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;for the last 50 years makes that obvious.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1308\" height=\"433\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image1.jpg\" alt=\" 30-Year Fixed Rate Mortgage Average in the U.S. (1970-2023) - St. Louis Federal Reserve\" class=\"wp-image-153707\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image1.jpg 1308w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image1-300x99.jpg 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image1-1024x339.jpg 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image1-768x254.jpg 768w\" sizes=\"auto, (max-width: 1308px) 100vw, 1308px\" \/><figcaption class=\"wp-element-caption\"><em> 30-Year Fixed Rate Mortgage Average in the U.S. (1970-2023) &#8211; <a class=\"editor-rtfLink\" href=\"https:\/\/fred.stlouisfed.org\/series\/MORTGAGE30US\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">St. Louis Federal Reserve<\/span><\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">It\u2019s hard to imagine rates being in the high teens back in the late 70s and early 80s, but they were. (Of course, real estate was a lot cheaper back then too.)<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">While rates are likely to come back down into the 5s and maybe even the 4s in the next year or two, when we zoom out to the next decade or two, we will likely be looking back at the period between the Great Recession and approximately 2025 to 2027 as an era of obscenely low interest rates not to be seen again in our lifetimes.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">There has become this odd assumption that the Federal Reserve can do whatever it wants to interest rates and thereby keep them low for as long as they like. And yes, the Fed does have a lot of power to bring the rates up or down, but it has to do so in response to economic realities it cannot control. If not, either inflation will get out of control, or the economy will stall.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Furthermore, its power is not endless. And what\u2019s coming will be beyond even the Fed\u2019s power to control.&nbsp;&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">What is probably the most important trend going on in our economy is that our population is becoming older. In a hypothetical society where there is no immigration, and each generation has as many children as the last, a graphical representation of ages should look like a pyramid with the highest numbers at the bottom (i.e., younger) and fewer as you get older until it hits zero at about 100.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Instead, the American demographic pyramid looks like this:<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"805\" height=\"826\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image3.jpg\" alt=\"U.S. Population Pyramid - Population Pyramids of the World\" class=\"wp-image-153706\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image3.jpg 805w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image3-292x300.jpg 292w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image3-768x788.jpg 768w\" sizes=\"auto, (max-width: 805px) 100vw, 805px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. Population Pyramid &#8211; <a class=\"editor-rtfLink\" href=\"https:\/\/www.populationpyramid.net\/united-states-of-america\/2020\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Population Pyramids of the World<\/span><\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">As you can see, it looks more like a tall house or a tower than a pyramid where the population doesn\u2019t begin to shrink until \u201cthe roof\u201d starts at about 62.&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/en.wikipedia.org\/wiki\/Baby_boomers\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">The baby boomer generation<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;(kids born between 1946 and 1964) were children of the silent and greatest generations (1901 \u2013 1945), who had many more kids than the subsequent Generation X and Millennials, as well as the boomers themselves.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"440\" height=\"332\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image2.jpg\" alt=\"U.S. Birth Rate\" class=\"wp-image-153708\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image2.jpg 440w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image2-300x226.jpg 300w\" sizes=\"auto, (max-width: 440px) 100vw, 440px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. Birth Rate (1909-2009) &#8211; <a href=\"https:\/\/en.wikipedia.org\/wiki\/Baby_boomers\" target=\"_blank\" rel=\"noreferrer noopener\">Wikipedia<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Thus, the American demographic pyramid doesn\u2019t look like a pyramid at all.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">What\u2019s happening now is that many baby boomers are starting to retire. About&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/legaljobs.io\/blog\/retirement-statistics\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10,000 baby boomers<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;are reaching retirement age each day, and many are leaving the workforce. Thus, a lot of production is leaving too.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">As an aside, it should be noted that immigration is unlikely to affect this trend much.&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.migrationpolicy.org\/article\/frequently-requested-statistics-immigrants-and-immigration-united-states\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">The median age of an immigrant<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;in the United States is 47, which is a bit older than the median age of native-born Americans (37).<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">As geopolitical strategist Peter Zeihan notes, people behave quite differently as they age, and this will have a dramatic effect on the economy. As he points out, \u201cMature workers tend to spend less, while simultaneously being the rich people of their societies.\u201d (<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.amazon.com\/End-World-Just-Beginning-Globalization\/dp\/006323047X\/ref=tmm_hrd_swatch_0?_encoding=UTF8&amp;qid=1685648746&amp;sr=8-3\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">The End of the World is Just the Beginning<\/span><\/em><\/a><span data-preserver-spaces=\"true\">)&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Back in the day, that didn\u2019t matter so much because \u201csimple mortality means they don\u2019t exist in large numbers. Few savers, many spenders. Supply and demand. Borrowing costs stay high.\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">However, the Industrial Revolution began to change that.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">\u201cThe early industrializers experienced longer life spans and lower child mortality, leading to a rough tripling of their populations. At the same time, industrialization triggered mass urbanization, which in time led to smaller families and aging populations.\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">But things didn\u2019t dramatically shift until after the Cold War ended.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">\u201cIn the world of 1990 through 2020\u2026all the richest and most upwardly mobile countries of the world were in the capital-rich stage of the aging process more or less at the same time. Throughout that three-decade period, there have been a lot of countries with a lot of late-forty-through-early-sixty-somethings, the age group that generates the most capital\u2026Collectively, their savings has pushed the supply of capital up while pushing the cost of capital down. For&nbsp;<\/span><em><span data-preserver-spaces=\"true\">everything<\/span><\/em><span data-preserver-spaces=\"true\">.&nbsp;<\/span><em><span data-preserver-spaces=\"true\">Everywhere<\/span><\/em><span data-preserver-spaces=\"true\">.\u201d&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">\u201cMortgage rates have been the lowest in history and advanced governments have on occasion been able to borrow at negative rates, while the major stock markets continue to explore higher and higher ground\u2026The explosion in industrial output and technological advances of the past decade or so are largely due to the combination of the lingering Bretton Woods system and this demographic moment of a huge oversupply of mature workers.&nbsp;<\/span><em><span data-preserver-spaces=\"true\">And their money<\/span><\/em><span data-preserver-spaces=\"true\">.\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Not only will the labor force shrink, but the formation of investment will dramatically shift as retirees will take their savings and have them \u201creapportioned from high-earning stocks, corporate bonds, and foreign assets to investments that are inflation-proof, stock market crash-proof, and currency crash-proof.\u201d In essence, 70-year-olds rarely gamble on new startups.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">This a global phenomenon. In fact, the United States is actually nowhere near the worst in terms of its demographic pyramid.&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.populationpyramid.net\/china\/2020\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">China\u2019s pyramid<\/span><\/a><span data-preserver-spaces=\"true\">, for example, is basically upside down (or, more accurately, bloated in the middle) and tilted a bit to the left as the one-child policy caused a male surplus.&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"817\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image4.jpg\" alt=\"China&#039;s Population Pyramid - Population Pyramids of the World\" class=\"wp-image-153710\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image4.jpg 800w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image4-294x300.jpg 294w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/06\/image4-768x784.jpg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\"><em>China&#8217;s Population Pyramid &#8211; <a class=\"editor-rtfLink\" href=\"https:\/\/www.populationpyramid.net\/china\/2020\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Population Pyramids of the World<\/span><\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Zeihan\u2019s prognosis for China is dire indeed,<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">\u201cThe future of China is not the utopian myth of Chinese domination. The future of China isn\u2019t even the somewhat blas\u00e9 expectation of inevitable regional dominance. China is powerless to defend or maintain or replace the Order upon which its economic existence and political cohesion is predicated. The future of China is that of a people literally fighting to the death to continue to exist as a unified country at all.\u201d (<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.amazon.com\/Disunited-Nations-Scramble-Power-Ungoverned-ebook\/dp\/B07RB1HMRM?ref_=ast_author_dp\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">Disunited Nations<\/span><\/em><\/a><span data-preserver-spaces=\"true\">)<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Zeihan\u2019s prognosis for the world, in general, is bad. He foresees the breakdown of globalization and a multitude of nations being unable to source sufficient food and raw materials or finished goods to maintain civilization at its current state. He\u2019s expecting something like a billion people to die from famine, disease, and war during the next 20 years.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">That being said, I am skeptical of some of Zeihan\u2019s claims. Apart from his analysis regarding Japan, he doesn\u2019t properly address how technology could make up part of the labor shortfall caused by retiring boomers, even in countries like China. We seem to be simultaneously worried&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.entrepreneur.com\/business-news\/ai-could-replace-300-million-jobs-according-to-goldman\/448627\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">AI will eliminate all jobs<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;and also that there won\u2019t be enough workers to maintain civilization. Honestly, who knows how labor force dynamics will turn out?<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Zeihan also seems to assume that the elderly will behave as they have done previously despite the crisis he foresees unfolding. While it likely means that people will need to push back their age of retirement (or, in places like China, probably not have a retirement at all), that change in behavior could dramatically blunt his pessimistic outlook.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lastly, he assumes the U.S.-led world order has created stability that could not be matched in a multipolar world. There is certainly some truth to it, but we should also admit that the U.S. has also acted to increase instability in plenty of places as well, like, say, Iraq and Libya. An absence of an American-enforced globalized order could be substantially less volatile than Zeihan predicts.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Zeihan is also quite optimistic about the United States, and here, I also think he overstates his case. The United States certainly&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.youtube.com\/watch?v=BubAF7KSs64\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">has some major advantages<\/span><\/a><span data-preserver-spaces=\"true\">, particularly geographic; year-round, navigable rivers throughout much of the heartland, fertile and contiguous soil, a coastline with many natural harbors, and no nearby potential military adversaries.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">U.S. population trends are also not as bad as many others. But he downplays some of the risks, including the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/will-a-struggling-us-dollar-impact-real-estate-investors\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">erosion of dollar hegemony<\/span><\/a><span data-preserver-spaces=\"true\">, a&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/bipartisanpolicy.org\/report\/deficit-tracker\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">ballooning national debt<\/span><\/a><span data-preserver-spaces=\"true\">, and the dangers of&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.pewresearch.org\/politics\/2014\/06\/12\/political-polarization-in-the-american-public\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">rapidly increasing political polarization<\/span><\/a><span data-preserver-spaces=\"true\">, which is as bad as it has been in living memory.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">The Future Outlook for Real Estate Investors<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Regardless of whether Zeihan has overstated his case or not, it is clear that the demographic breakdown of the United States (and the world broadly), as well as a retrenchment from globalization, is going to put upward pressure on interest rates over the next few decades.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">It will also put upward pressure on inflation and, unfortunately, much more so on commodities like food than assets like real estate.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Worldwide, populations will likely decline, making property less valuable than before in many places. This is not true in the United States, as the modest declines in population from our flattish population pyramid will be buoyed by immigration. There may even be a flight of capital from other countries with worse population pyramids to the United States which may offset some of that upward pressure on interest rates and inflation.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Even still, such capital flows are highly unlikely to do much more than cushion the landing. The days of property appreciation greatly outpacing inflation will likely come to an end and perhaps even reverse.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">And investors should expect interest rates to return to what was seen in the 90s, if not higher. So when rates likely come down in the next year or two, I would aim for fixed mortgages over adjustable-rate loans.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">And if you have any 30-year fixed mortgages at 4% or less, I would protect those with your life.&nbsp;<\/span><\/p>\n\n\n\n    \n  <div id=\"visibility-group-block_f634c8235362265a1489d7fc70de6ec7\" class=\"visibility-group  hidden\">\n        \n\n<div id=\"hero-block_2ce361de22c22d02313d57a5d2c21cc9\" class=\"first:mt-0 hero-block py-4  alignwide   has-background has-theme-gold-light-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-theme-gold-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Get the Best Loan Today<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:16px\">Find trusted, <em><strong>investor-friendly<\/strong><\/em> lenders who specialize in your strategy. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<div id=button-custom-event-block_96d7c5f09da8cc78060f34fbdb33549f class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/business\/finder\/lenders\" x-on:click=\"window.analytics.track(&#039;Blog Block | B2C Marketplace Lender Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/buckle-up-interest-rates-are-only-getting-worse-from-here&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-gold-background-color has-text-color has-white-color\" target=\"_blank\">Find a Lender<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/08\/Marketplace-Blog-Blocks-Lender-v3.png\" alt=\"investor friendly lender, investor friendly real estate loans\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n  <\/div>\n  \n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n    \n  <div id=\"visibility-group-block_64dd31c79f00f\" class=\"visibility-group  \">\n        \n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div id=\"hero-block_64dd2875dba9d\" class=\"first:mt-0 hero-block py-4    has-background has-slate-100-background-color has-text-color has-theme-slate-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<h3 class=\"wp-block-heading my-0 tracking-tight font-extrabold has-theme-slate-dark-color has-text-color has-large-font-size\">Join the community<\/h3>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-theme-slate-color has-text-color\" style=\"font-size:16px;font-style:normal;font-weight:400\">Ready to succeed in real estate investing? Create a free BiggerPockets account to learn about investment strategies; ask questions and get answers from our community of +2 million members; connect with investor-friendly agents; and so much more. <\/p>\n\n\n\n<div id=button-custom-event-block_64dd2888dba9e class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/signup\" x-on:click=\"window.analytics.track(&#039;Blog Block | Acquisition | Free Membership Signup&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/buckle-up-interest-rates-are-only-getting-worse-from-here&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Sign Up<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n            <\/div>\n<\/div>\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n  <\/div>\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Yes, interest rates might still be historically low compared to the 80s and before, but don&#8217;t expect it to stay that way.<\/p>\n","protected":false},"author":1689,"featured_media":153715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-153700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-trends"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/153700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/1689"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=153700"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/153700\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/153715"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=153700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=153700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=153700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}