Mortgage Interest Is Up Again Should I Wait To Buy

Dated: 03/16/2017

Views: 102

Mortgage Interest Rates Went Up Again… Should I Wait to Buy?

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is 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 below 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.

Mortgage Interest Rates Went Up Again… Should I Wait to Buy? | MyKCM

Bottom Line

Though you may have missed getting the lowest mortgage rate ever offered, you can still get a 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.

Latest Blog Posts

Coming Soon 38651 Galway St Sandy Or 97055 VideoWalk Thru

Coming Soon! A great corner lot Townhouse with a LARGE lot!You can get on the Notification List: Text LFR7 to 88000 What sets this home apart from all the others in the neighborhood?  The

Read More

How Current Interest Rates Can Have A High Impact On Your Purchasing Power

How Current Interest Rates Can Have a High Impact on Your Purchasing Power Tuesday May 22nd, 2018  First Time Home Buyers, For Buyers, Interest Rates, Move-Up

Read More

Need A New House

Are you tired of countless repairs? Would a newer home in great condition excite you?Sometimes that new house smell is just what you need to experience the peace and comfort when you get off work. I

Read More

Portland Oregon Residential Real Estate Review April 2018

Portland Oregon Residential Real Estate Review April 2018April 2018 Residential Highlights Closed sales saw an upswing this April in the Portland metro area. There were 2,523 closings, a 13.7%

Read More