Great Interest Rates = Great Time to Buy!

Over the past 5 years we have seen amazingly low mortgage interest rates compared to the historical average. I can only imagine that over the next 5 years we are likely to see higher rates as the economy continues to improve. However, last week there was some market volatility causing a nice dip in mortgage interest rates to a 16 month low.

Interest rates have a big effect on your mortgage payment and home affordability. Take a look at the chart below and you can clearly see that small changes in rates can cause a couple hundred dollar change in house payments. The current rates and increasing housing prices make now a great time to buy your first home, move up in house, or refinance. Interest Rates

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