Should You Wait For Mortgage Rates To Come Back Down??

 

In a word, my opinion is “No”.  Below is a graph of the 30 year fixed rate since the beginning of 2012, courtesy of our friends at The KCM Blog.

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Fannie Mae, Freddie Mac, the Mortgage Bankers Association and the National Association of Realtors are all projecting that rates will continue to climb.  What does this mean for you?

If you are selling then it means the potential pool of buyers for your home is shrinking as the same qualifying payment buys less house…

If you are buying either you qualify for less house or the house you want is getting more expensive…

It’s always a tough balancing act when both prices and rates are increasing.  We can help you do the math to determine what makes the most sense for you whether you are thinking of buying or selling.

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About CarolSawdey

I'm a Broker/Realtor in the San Ramon Valley. A trusted advisor in the local community: We help people buy and sell homes. We counsel them thoroughly. We negotiate to their advantage. We keep their stress to a minimum. And we love what we do!
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