Welcome to our video blog!
Today I wanted to talk to you about how interest rates affect the home market. We’ve been getting a lot of questions in lately about how rising rates will affect the buying market. There have been some dramatic increases!
Just a month ago, you could get a 30 year fixed mortgage for about 3.5%; today that same loan is at 4.65%. It’s not all bad news, though. Today’s interest rates are still historically low. That means there won’t be a steep price increase and interest rates will probably hover around 4.5%.
As a result of all of this, we are coming into a more normal and predictable market which will be helpful for buyers!
Thanks so much for your time! Please reach out to us if you have any questions!
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ReplyDeleteIt's the job of a mortgage broker to be a lawyer in between a borrower and a lender. Before he submits the mortgage application, he makes sure that all of the borrowers' paperwork is in order and that it is correct. For a mortgage broker to get paid, the lender must give the loan to the person who wants it. Visit the Mortgage Intelligence website to find Mortgage Brokers Kawartha.
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