Mortgage Interest Rates Are Going Up Should I Wait To Buy

Dated: 11/14/2017

Views: 97


Mortgage Interest Rates Are Going Up… Should I Wait to Buy?

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeksFreddie 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 that they may no longer be able to get a rate below 3.5%. 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 Are Going Up… 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

How Much Do You Need To Make To Buy A Home

It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to

Read More

What Should You Look For In Your Real Estate Team

Bottom Line:In this world ofGooglesearches, where it seems like all the answers are just a mouse-click away, you need an agent who is going to educate you and share the information that you need

Read More

Boomerang Buyers Most Qualify For Financing In 2 3 Years

Bottom Line:If you are one of the millions of Americans who has filed for bankruptcy and think that you have to wait 7-10 years to make your dream of returning to homeownership a reality, let’s

Read More

House Prices Simply A Matter Of Supply Demand

Bottom Line:The reason home prices are still rising is because there are many purchasers looking to buy, but very few homeowners ready to sell. This imbalance is the reason prices will remain on

Read More