Which direction are interest rates heading in? In the beginning of the year most industry experts were of the opinion that interest rates would rise. After all, the Federal Reserve had already raised the rates once, and they had publicly stated that they would continue to raise rates throughout the year. So everyone says interest rates are going up.
Sound good to you? It did to me. However, rates are still remaining at their historically low levels. The interest rate for qualified Borrowers is hovering right around the four percent level. Industry experts were thinking they would be at at least 5% by this time.
I looked into my crystal ball to see what the interest rates will be by the end of the year, but it’s a tad cloudy. So I really don’t know. All I know is that if you’re thinking about purchasing a new home, interest rates are still at that historically low level. You should do it now. Call me to discuss
