What Going On With Interest Rates?

The long-term loan interest rate remains historically low; however, it has made a jump since the first of the year. Over the last 13 months, rates have grown over 0.5% with experts predicting to be near 4.95% over the next quarter or two. Keep in mind this recent jump is still well below the 30-year average of 6.65%. Now is one of the most advantageous times to make a purchase because the debt service is so low. We may never see rates like this again. This has helped off-set the price appreciation we have seen in our area. Move-up, second home, investment, and down-size purchases are all supported by today’s interest rate. Reach out for more info or a referral to a trusted mortgage adviser.