Milestone Germantown MD | Mortgage Interest Rates Are Going Up… Should I Wait to Buy?

 

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for. 

Particularly in and around Milestone 20876 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Germantown.  

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.  

Today I would like to talk to you about  Mortgage Interest Rates Are Going Up… Should I Wait to Buy?

 

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters.

This has caused some purchasers to lament the fact that they may no longer be able to get a rate below 3.5%. However, we must realize that current rates are still at historic lows. 

Here is a chart showing the average mortgage interest rate over the last several decades:

 

 Bottom Line

Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.

 

Source.. KCM Fernando Herboso Blog

 

To protect your interests and assure that you make the best possible decisions, 

it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market. 

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed, 

and the most updated strategic view for your home purchase in Germantown Maryland 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com 

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