Interest Rates Are On the Rise
Mar 08, 2021
Whether it can be attributed to the typical busy spring real estate season, or an improving economy, as of March 2021, interest rates are once again on the rise. While many buyers were able to lock in at historically low rates late 2020/early 2021, that may now be changing. Don’t get us wrong—rates are still extremely good—but this is are semi-regular reminder that if you’ve considered buying, now is the time to put some urgency and effort into your search.
Remember, the lower you can lock your interest in, the less you pay over the life of your loan. A $50/per month savings, for instance, may not look like much on paper but over the course of the more-than-300 typical payments on the life of a mortgage loan, the difference is substantial.
Give us a call and talk about the first steps in your home-buying journey and we’ll happily answer any questions you may have!