Mortgage Interest Rates Went Up Again… 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.

 

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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? | 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.

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My name is Paul Bryant and I specialize in assisting buyers and sellers in Real Estate transactions. My areas of expertise include Columbia,LexingtonWest Columbia, and surrounding areas. As your REALTOR®, I will work hard to justify your confidence and generate the results you deserve.  Through my determination, research and 100% follow-through, you can be assured that you will receive the best possible service and a clear look at all of your options.  Whether you are selling, buying or just have a question, I invite you to call me today at 803.361.0585 or visit my website PaulBryantWorks.com.