Should I Wait for Interest Rates to Come Back Down?
Above is a graph of the movement of the 30 year fixed mortgage rate since the beginning of 2012.
Some buyers are waiting to see if interest rates will come back down before making a decision about buying a home. Though no one can guarantee where rates will be in a few months, we don’t believe waiting is a good strategy.
Most experts believe rates may actually move higher. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will continue to climb.
With home prices increasing and interest rates projected to also increase, the cost of buying a house could quickly increase rather dramatically.
Click here to search Lake County, Illinois Homes for Sale.
Jim Starwalt
Thinking of making a move?
Log onto my website at www.StarHomeFinders.com and search Northern Illinois Homes for sale.
Registering is quick and easy!
Easily search Northern Illinois Homes for Sale with photos, open houses and virtual tours at StarHomeFinders.com
Jim Starwalt, Broker Associate
RE/MAX Center
Phone: 224-627-7581
Jim@StarHomeTeam.com
Find Me Online
Should I Wait for Interest Rates to Come Back Down?
Comments