Nov 14 2017 5018 1

Dated: 11/14/2017

Views: 60

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

Aug 14 2018 5018 1

Are You Thinking of Selling Your Home? Competition Is Coming!The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next

Read More

Aug 13 2018 5018 1

Existing Home Sales Cooling Off This Summer [INFOGRAPHIC]Some Highlights: According to the National Association of Realtors’ latest Existing Home Sales Report, sales in June were

Read More

Aug 10 2018 5018 1

Supply & Demand Will Determine Future Home ValuesWill home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there

Read More

Aug 9 2018 5018 1

The Wave of Millennial Homebuyers Continues to SwellMany have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their

Read More