Long Term Interest Rates Still Remain Low

Concerned with the recent rise in interest rates? Believe it or not the long-term loan interest rate remains historically low and now is the best time to make a home purchase!
Although rates have made a jump since the first of the year and over the last 13 months they 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.
If you’d like to discuss this more, feel free to reach out anytime for more information!
Posted on October 8, 2018 at 5:40 pm
Brian Hayter | Category: Community Info

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