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

Mortgage Interest Rates Went Up Again… Should I Wait to Buy?
March 15, 2017 No Comments » Featured Reading michael

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?

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.

Contact me today to get started!

Michael Lux, Sr. Loan Officer

Serving S. Florida since 1982
3878 Sheridan Street, Hollywood, Florida 33021
Alterra Home Loans, A Division of Venta Financial Group
NMLS#: 357171
“Building Wealth Through Real Estate”
Board of Directors / Veteran’s Assn. of Real Estate Professionals and Broward Board of Realtors Education Committee
Download my free mortgage APP, go to mlux.mortgagemapp.com
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