11/24/2021
Did you know? 🚨 Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, from 2.9% in Q3, and experts project rates will continue rising into 2022. This may not seem like a huge increase, but If you’re thinking of buying a home, even the smallest uptick in rates can increase your monthly payment and directly affecting how much you can afford. 👎🏼
Instead of waiting and hoping rates will fall, today’s rates should be motivation to purchase now before rates increase even more! 📈
Danielle Hale, Chief Economist at realtor.com, puts it best:
“Smart buyers should consider calculating a monthly payment not only at today’s rates, but also at rates that are a bit higher so that they won’t be derailed by a sudden upward move. . . .”
You should also be ready to act when you find the home that meets your needs. That means getting pre-approved with a lender so there won’t be any delays when the time arrives. 🏡
Home ownership is completely feasible in today’s market with the right Realtor + lender team behind you and the right tools in your pocket. If you or someone you know has been looking to make a move please let me know, I would love to help point you in the right direction 🙋🏼♀️👊🏼