Mortgage Rates are Going Up: You Better Act Now!

With over 25 years of experience building new homes in western North Carolina, we have seen the many ups and downs of the home building business.  It’s no secret that the housing market has suffered through some of the worst times in recent history these past few years.  As a result of this, the government has lowered interest rates to levels almost unheard of at any other time. These rates, however, have been put in to jump start the market and were never intended to last forever.

The good news is, it appears that the worst of this storm is behind us and better, brighter days lie ahead.  The bad news is, as the storm goes, so go the low interest rates.  According to the Washington Post, “Mortgage Rates rose at the highest rate in three decades this week.”

The housing market has taken quite a beating the last few years but it appears the worst is behind us.  However the days of 3.3% rates may be behind us too.  We all know what a difference the interest rate can make to your monthly mortgage payment.  Now that we are back in to 4% range, be sure to buy now before we start talking about 5 or 6%