Interest rates have hovered around 4% for the majority of 2017, which has given many buyers relief from rising home prices and has helped with affordability. Experts predict that rates will increase by the end of 2017 and will be about three-quarters of a percentage point higher, at 4.5%, by the end of 2018.
Last week’sFreddie Mac Primary Mortgage Market Surveyrevealedthat interest rates for a 30-year fixed rate mortgage havefallen to their lowest mark this year, at 3.88%.This is great news for homebuyers looking to purchase and homeowners looking to refinance.
Let’s take a look at a historical view of interest rates over the last 45 years.
Be thankful that you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.
Need help finding a home you love? Contact me today and visit my website tomelia.scottie-smith.com
Author:Robin ONeal Phone: 214-245-9068 Dated: July 10th 2017 Views: 75 About Robin: ...
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"After going through a failed sale, a business partner introduced me to Scottie. He came over and did a walkthrough and presented me with statistical data on my house and neighborhood. Scottie had complete confidence that my would sell in no time. He was right! I was very impressed with the amount of traffic my house received, not to mention the contract. Scottie and his team were A1 and professional! After completing some "to-do" items for him and the buyers, I signed the paperwork and closed the sell of the house to the new home owners today! Smoothest process ever!"