Should I wait for a lower mortgage interest rate?⠀
This is a question I’ve been getting a lot lately, especially as interest rates have been fluctuating a bit the past few weeks. Here’s what you need to know:⠀
1. Rates are still at historic lows. Did you know the interest rate in 1981 was over 16%?!
2. Rates are projected to increase in 2021.
3. Increasing rates + increasing home prices impacts the overall cost of purchasing a home.
4. Waiting for future rate declines that may never come could leave you wishing you’d made a move in hindsight.
Have other questions about mortgages or interest rates? Don’t hesitate to ask! Send me a message or leave a comment with any questions below.