Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year.
The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home. Don’t let the prediction that rates will increase stop you from purchasing your dream home this year.
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.
Author:Jeri Thurmond Phone: 931-980-8044 Dated: March 29th 2018 Views: 50 About Jeri: It takes a real estate agent with strong marketing abilities and top negotiating skills to negotiate...
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About Kriste Simmons & The Simmons Team of Reliant Realty ERA Powered -931-245-8800
Thank you for choosing The Simmons Team for your real estate needs! We make it our mission to provide you with top of the line services in any type of situation. We specialize in the Clarksville, Montgomery County, Fort Campbell and Hopkinsville areas, but will gladly help you with surrounding areas as well. Our local expertise and wide variety of Real Estate knowledge will benefit you whether you are buying or selling for the first or the tenth time.
First Time Home Buyers, For Buyers, For Sellers, Housing Market Update
"We couldn't have asked for a better agent to help us with our first home purchase! She made sure that she showed us what was within our comfort zone as far a price.She walked us through the process and answered all questions no matter how trivial they may have been. She kept us up to date with our building process and when there were minor hiccups we were always in the know. I would definitely recommend her to anyone looking for an agent."