Should I Wait to Buy?

wait-to-buyMortgage interest rates have risen over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, are forecasting mortgage rates will continue to rise over the next 4 quarters.

This has caused some home buyers to agonize over the fact they may no longer be able to get a rate below 4%.  However, keep in mind that current rates are still at historic lows.historic-mortgage-rates

Real Estate Bottom Line

Now is not the time to jump back on the fence and say “interest rates just went up.”  It’s the time to jump off the fence and say “interest rates just went up!”  You can still get a better interest rate than your boss 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.

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