Nov 14 2017 5018 1

Dated: 11/14/2017

Views: 34

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.

Blog author image

Jeri Patrick

In today’s complex and difficult real estate market you need a professionals who will do whatever it takes to market and sell your home. Jeri Patrick has a team with an established history of succes....

Want to Advertise on this Site?

Latest Blog Posts

Jan 23 2018 5018 1

Why You Need a Professional on Your Team When Buying a HomeMany people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first

Read More

Jan 22 2018 38554 2

 How Rising Prices Will Help You Build Family Wealth in 2018Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34%,

Read More

Jan 22 2018 38554 1

 Time on the Market Drops to New Low in 2017According to recently released data from the National Association of Realtors (NAR), the median amount of time a home spent

Read More

Jan 22 2018 5018 1

Buying A Home Is More Affordable Than Renting In 54% Of US CountiesAccording to ATTOM Data Solutions’ 2018 Rental Affordability Report, “buying a median-priced home is more affordable

Read More