We are all seeing interest rates rising into the mid 4% range and many home buyers are concerned about the effect this will have on the Real Estate Market. Here’ is how to prepare for these rising rates if you are considering buying or even refinancing your home…
1) Even thought the rates aren’t at the record lows experienced in the last several months, they are still very cheap loans when compared with the historical loan rates.
2) The refinacing craze is starting to cool.
3) Higher rates won’t dampen the pace of the housing recovery
4) Once you’re ready to buy….LOCK IN THAT RATE!!
5) Fixed rate loans usually beat adjustables….but pick the loan that best matches your ownership time frame.
It’s important to work with a Real Estate Professional that is in tune with the market and all the contributing factors that will affect your purchase. Please contact me with any questions.