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.
Author:Connie White Phone: 843-532-3356 Dated: July 20th 2017 Views: 195 About Connie: My personal venture into real estate was driven by the desire to provide an enjoyable environme...
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"5 stars KevinThorp 09/01/2013 I am very happy with my Realtor specifically … Connie White. We had been trying to sell some land for a number of years, starting with another realty company, with disappointing results. The agent was very motivated and attentive... until I signed the contract. Then I rarely heard from from him, and when I did, it was mostly excuses. So we tried selling it ourselves, also without luck. We got plenty of calls, but they were either unqualified to buy or made extremely low offers. Finally I hired Connie White. What a refreshing difference! She is very energetic and doesn't know the meaning of the word no. Connie went after leads like a laser-guided cruise missile and always kept us informed by email, phone calls and in-person meetings. In this tough market we expected to take a big hit on our asking price, but were VERY pleased at the final sale price. My family and I highly recommend Connie! "