rising interest rates

Mortgage Interest Rates on the Rise

There’s no doubt that “the era of ultra-low interest [mortgage] rates is over,” said Lawrence Yun, chief economist of the National Association of Realtors®, in a statement. That's the quote that stopped me in my tracks.

I wish I could tell you that lower home prices will offset the rate increase but currently we are still experiencing low inventory and high demand, including multiple offer situations and many frustrated buyers. The article suggests that if you're planning on buying in 2017, act sooner than later; I agree. Get the full article on rising interest rates from realtor.com here

Are you prepared for rising mortage interest rates?

"The Fed had been raising interest rates slowly for two years, but the strong numbers suggested it might keep doing so — and at a faster rate than before. Fed Chairman Jerome Powell added to those fears in October with comments suggesting more hikes were coming." 
Read the full NPR article here on the stock market and hints as to how it will affect interest rates and homeownership

Thinking about buying or selling? Take advantage of our 200+ years of cumulative expertise. Contact one of our real estate professionals! Interested in speaking with one of our trusted lenders to get the latest on mortgage rates and trends, click here.

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