Interest rates have stayed at about 4% for the majority of 2017, which gave a lot of buyers relief from rising home prices and has helped with affordability. Beginning toward the end f 2017 experts predict that rates will increase and will be about three-quarters of a percentage point higher, at 4.5%, by the end of 2018.
Last week’s Freddie Mac Primary Mortgage Market Survey revealed that interest rates on a 30-year fixed rate mortgage had fallen to their lowest mark this year, at 3.88%. This is good news for homebuyers interested in purchasing and homeowners looking to refinance.
The rate you secure substantially impacts your monthly mortgage payment and the amount you will ultimately pay for your home.
Let’s take a look at a historical view of interest rates over the last 45 years.
Be thankful that 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.
Realty Solutions Group was built around a simple but elusive concept: provide brokers and clients with the highest level of service in the industry through cutting-edge sales, marketing programs and a culture that values innovation, relationships and a strong local focus.
In less than 5 years, Realty Solutions Group is among the top independent brokerage firms in S/E Wisconsin.
As a locally-owned, independent company, Realty Solutions Group is deeply committed to supporting the communities and clients we serve. We are constantly evolving, but remain focused on that one simple idea behind our founding.
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