Interest Rates Up, But Still Good

The average interest rate on a 30 year fixed rate mortgage increased to 4.39% this week, which is a full percentage point higher than in early May – but rates are still a bargain by historical standards. For example, when I bought my first home, our interest rate was 9.5% – and we were thrilled with that because they had fallen from 11.5%! So, yes, rates are still good – but it won’t last forever. If you’ve been thinking about buying a home, you might want to take a closer look before rates go up more. Let us know if we can help – there is no cost for a Realtor to help you with purchasing a home.

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