WHAT YOU NEED TO KNOW
Mortgage interest rates are on the rise after years of being at a standstill. Interest rates are projected to increase to an average of 5% for a 30-year mortgage and 4.4% for a 15-year mortgage.
WHAT HIGHER MORTGAGE INTEREST RATES MEAN FOR SELLERS
I’ll help you set expectations for how much you can make, and how long you’ll have to wait for the right offer.A mortgage is a big commitment, and adding higher interest rates to the mix will make many buyers pause.
WHAT HIGHER MORTGAGE INTEREST RATES MEAN FOR BUYERS
Even though mortgage interest rates are the highest they’ve been in a while, they’re still relatively low. Go for a conventional 15-year fixed-rate mortgage. That way, you know exactly what your payment will be over the life of the loan.