If you have been considering buying a home, and waiting for prices to go down some more, keep in mind that the fluctuation in mortgage loan rates is AT LEAST as significant as price in determining your monthly payments. Consider the information below:
Reprinted from: Daily Real Estate News October 17, 2008
"30-Year Rates Rise to 8-Week High
Interest rates for 30-year fixed-rate mortgages rose this week to an 8-week high, according to Freddie Mac, while ARM rates showed smaller gains.
The 30-year fixed mortgage rate rose to 6.46 percent during the week ended Oct. 16, up from 5.94 percent the prior week.
Last year at this time, the 30-year fixed rate mortgage averaged 6.40 percent. The 15-year fixed mortgage rate climbed to 6.14 percent from 5.63 percent over the same period."
Single adults face unique challenges when buying and selling a home. I know because I've done it myself, & a significant portion of my clients are single. This blog provides news & information you need to help you achieve your real estate goals. Alice Kuder, REALTOR®, Green. Prudential Northwest Realty Associates, Seattle, WA
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