If you haven’t heard, they’re rising really fast! Here’s what to do next… Sitting on the fence – jump off right now!!! If you wait, you will get less house for your money in the future. With the increase in house prices … just what are you waiting for!!
Check out Adam Hebener with Nova Home Loans analysis of what’s going on with Mortgage Rates. Adam’s Comments:
“We’ve seen Mortgage Backed Securities lose over 200 basis points in the last week! What this means for consumers is a sharp rise in interest rates that happened almost overnight. Rates for the 30 yr fixed loans moved from the mid 3% range to the low 4% rang in about 48hours. On a 200,000.00 loan this is a difference of around 45.00 per month in monthly payment. As you can see from the chart below, the ‘gap down’ that we saw from Friday to Tuesday was a drastic break through established areas of support. Bottom line for buyers and refinancers is this: If you’re thinking about buying a home or refinancing your current mortgage, don’t wait another second! We’ve likely seen the best of interest rates for a while so now is the time to get loans locked in before the house you love costs more!”
Adam Hebenver 303 912 0255