As the graph shows, even though today’s rate is above 3%, it’s still incredibly competitive. But today’s rate isn’t just low when compared to the most recent years. To truly put today into perspective, let’s look at the last 50 years (see graph below): When we look back even further, we can see that today’s rate is truly […]
Experts Project Mortgage Rates Will Continue To Rise in 2022
Whether you’re thinking about buying your first home, moving up to your dream home, or downsizing because your needs have changed, purchasing before mortgage rates rise even higher will help you take advantage of today’s homebuying affordability. That could be just the game-changer you need to achieve your homeownership goals. Bottom Line If you’re thinking of buying […]
Don’t Wait for a Lower Mortgage Rate – It Could Cost You
While a projected half percentage point increase may not seem substantial, it does have an impact when you’re buying a home. When rates rise even slightly, it affects how much you’ll pay month-to-month on your home loan. The chart below shows how it works: In this example, if rates rise to 3.55%, you’ll pay an extra $100 […]
The Main Key To Understanding the Rise in Mortgage Rates
The relationship has also been consistent throughout 2021 as evidenced by this graph: The graph also reveals the most recent jump in mortgage rates was preceded by a jump in the 10-year Treasury rate (called out by the red circles). So, What Impacts the Yield Rate? According to Investopedia: “There are a number of economic factors […]