Mortgage Interest Rates Are Going Up Should I Wait To Buy

Dated: 12/04/2017

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Mortgage Interest Rates Are Going Up… Should I Wait to Buy? | Simplifying The Market

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

 First Time Home BuyersFor BuyersInterest RatesMove-Up Buyers
 

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? | Simplifying The Market

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.  

Contributor
Charles R Juarez Jr
Realtor/Notary Signing Agent
Text me at (210) 361-5728

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Charles Juarez

With my expertise in realty for both buying or selling a home in San Antonio, and surrounding areas. You have found the right resource for your real estate needs. Whether you are looking for a new hom....

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