Community Info October 8, 2018

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!