Has the home search in Raleigh been stressful for anyone? Has the home of your dreams been taken off the market in a matter of days before you commit to an offer? Did you know that the average days
Mortgage Interest Rates Just Went Up But It Still May Be A Prime Time To Buy
Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Along with Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors are all calling for mortgage rates to continue to rise over the next four quarters.
This has caused some purchasers to lament the fact they may no longer be able to get a rate less than 4%. However, we must realize that current rates are still at historic lows.
Here is a chart showing the average mortgage interest rate over the last several decades.
You may have missed getting the lowest mortgage rate ever offered but analysts are projecting that rates will continue to rise. That makes now a great time to lock in a mortgage rate before the Fed makes another move. Look on the bright side, you can still get a much better interest rate than your older brother or sister did ten years ago; a lower rate than your parents did twenty years ago and a better rate than your grandparents did forty years ago.
Jimmy Swann, Broker/Owner for Swann Group Realty works towards the clients goals and understands how important that the Real Estate Agency you choose to employ and guide you through this journey is yo....
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