Wednesday

Is the Sky Falling?

Everyone is asking me about interest rates: I heard rates skyrocketed and now the market is bad! 

Relax. The sky is not falling. Yes, rates are higher now than they were a couple of months ago. However a couple of months ago rates were super, super crazy low. That's not a professional description, but I'm trying to make a point.

Mortgage interest rates are still very low. They are about 1/2 of what they were when I bought my house in 1999. If I would have waited until 2011 - 2013 to buy a home to wait on the rock bottom interest rate, then I would have been renting for ... well, you do that math.

Read this:


http://money.cnn.com/2013/07/18/real_estate/mortgage-rates/index.html