So you’ve been thinking of buying a house. Maybe you’ve even done some research on neighborhoods and realtors. If you’re even considering buying a house, now is the time to turn those thoughts into action!
Freddie Mac reported that for the week ending January 2nd, rates rose to 4.53 percent for a 30-year fixed-rate mortgage. That’s up .05 percent from just the week before. Rates for 15-year fixed-rate mortgages also rose – by .03 percent, week over week.
What does this mean for you? It means that you’ll end up paying more for a home you didn’t purchase last week, even if the selling price stays the same. As signs of economic strengthening continue and consumer confidence rebounds, this could signal a trend in the direction of mortgage rates. So the sooner you buy a home, the more you’ll save on the purchase.
Ready to get a jump on homebuying and get ahead of rising mortgage rates? Give me a call to check out some awesome neighborhoods and great listings!
