Mortgage Rates on the Rise: What does it mean for homebuyers?

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Interest rates have been rising over the past few months, and experts predict that they will continue to go up. For potential homebuyers, this means that now may not be the best time to buy a house. However, there are still a few things to consider before making the decision to wait or buy now.

As mortgage rates rise, here's exactly how more homebuyers are snagging mortgage  rates around 4% - MarketWatch

Interest Rates Are Still Low Compared To Historic norms.

 

Even though interest rates have been rising, they are still relatively low when you compare them to historical averages. According to CNBC, the average 30-year mortgage rate in 2018 was 4.54%.

 

That's higher than it was in 2016 and 2017 (when it averaged around 4%), but it's still lower than the long-term average of 6%. So, if you're thinking about buying a house, you may want to act sooner rather than later.

 

Rising Interest Rates Could Mean More Affordable Homes

 

While a rise in interest rates could make buying a home more expensive in the short term, it could also lead to more affordable homes in the future. That's because when mortgage rates go up, home prices usually go down. Also, search for rbc mortgage rates winnipeg.     

 

This is because potential buyers have less money to spend when interest rates are high. If you're thinking about waiting to buy a home until prices go down, keep in mind that interest rates could also increase during that time, offsetting any savings you would get from lower prices.

 

It's Not Just Mortgage Rates That Are Affected By Rising Interest Rates

 

If you're thinking about buying a home and taking out a mortgage, it's important to remember that interest rates don't just affect mortgage rates. They can also impact other things like auto loans and credit card rates. So, even if you're not planning on buying a home anytime soon, it's still worth paying attention to interest rate trends.

 

There is no simple answer to whether you should purchase a home at the moment or wait if you're thinking about purchasing one. It depends on a number of factors, including your personal financial situation and the current market conditions. However, if you're considering buying a home in the near future, it's important to keep an eye on interest rates and how they might impact your decision.

 

In general, rising interest rates are a good sign for the economy. They mean that businesses are doing well and that there is more money available to lend. However, if you're planning on taking out a loan, it's important to keep an eye on interest rates and make sure that you understand how they could impact your finances.

 

Mortgage rates have been rising over the past few months, and experts believe they will continue to go up throughout 2019. For potential homebuyers, this means now may not be the best time to buy a house.

 

However, there are still some things to consider before making the decision to wait or buy now. Interest rates are still relatively low compared to historical norms, and a rise in rates could mean more affordable homes in the future.

 

It's also important to remember that rising interest rates will not just impact mortgage rates but could also affect other things like auto loans and credit card rates.

 

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