Mortgage Rates Through The Decades
Do you know where Mortgage rates are at compared to the past?
In December, the Federal Reserve raised interest rates by 0.25%. Many potential home buyers are frightened by this news, assuming mortgage rates will also increase and they will be unable to afford a home in this year. However, mortgage rates are tied to the bond market, not the Fed’s interest rate, and experts predict little to no increase in mortgage rates in 2016.
Currently, rates are the lowest they have been in decades, making the purchase of a new or first home a fantastic resolution for many in 2016.
A local REALTOR® can help answer your questions about the real estate market:
- How to find qualified buyers for your home?
- What are your qualifications for buying a new home?
- How much is your home is worth?