Quick Search

Where are mortgage rates headed?

Low mortgage rates are going, going, up!

Mortgage Rates
There comes a time when you think low mortgage rates are going to last forever. And although they are still low, they have gone up 1% since April. That’s one reason buyer demand is still strong in many parts of the country.  No one knows exactly what will happen but all signs point to a steady increase going forward.  If you’d like to see more in depth info check out this easy to understand infographic about what’s happening right now in the real estate market. As rates rise two things happen:

  • your monthly payment increases
  • you will buy less home because of increasing rates

We have been extremely spoiled the last few years because of the melt down. And now, rates are going up and will continue to do so.   Rates are still low but we have passed the “best deal maker” and it doesn’t look like its going back. Still time to get in before rates head back up to 7% – 8%.

About Terry W. Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite & know stuff, ask me...

Speak Your Mind