To make sure we provide information you are interested in, when you're interested in it, if there are stretches of
updates you don't open, we'll automatically decrease the frequency of the updates you receive. If you like the updates,
you just need to open them to keep receiving them.
You already have a saved search with that name. If you save, you will overwrite the existing saved search. Are you sure?
Mortgage Interest Rates Are Going Up… Should I Wait to Buy?
November 14, 2017 | Curtis S Johnson
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:
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.