03/30/2022
The average 30-year-fixed-rate mortgage rate
Has increased by 1.2%(3.22% to 4.42%)since January of this year, and experts expect rates to continue going this direction.π€―π€¦πΏββοΈ
Chief economists Sam Khater states"...rising inflation, escalating geopolitical uncertainty yard the Federal Reserve's actions are driving rates higher..." So what does this mean fir mortgage rates?β¬οΈποΈπ
Len Kiefer, the Deputy Chief Economist for Freddie Mac recently stated "...Mortgage rates are likely to continue to move higher throughout the balance of 2022..."
What does this mean for you, the potential buyer?
Paying more for a house with a higher rate can add to the difficulty of buying a new home, and may not be something you want to do. However, the reality is waiting longer until "the time is right" will just cost you more money. If you're ready, willing, and able to buy, now is the time opposed to a year, or even 6 months from now. Contact me today and let's start the process now tohelp make you a homeowner.π²π§