Today in our Market Updates series, we would like to tell you about mortgage rates. Our friends at KCM (Keeping Current Matters) have provided us with some amazing infographics that we are pleased to share with you. We cannot stress enough that NOW IS THE TIME TO BUY!
Here we see the mortgage rates offered by Freddie Mac for the past year of 2014. There has been a steady decline over 11 months from 4.5% to right around 4% at the year's end. Half of a percent may not seem like a large drop, but remember that every dollar counts when you are locked in for 30 years of payments.
The above graphic shows mortgage rate projections for the four leading firms in the country. As you can see, mortgage rates for all four of these firms are projected to increase over the course of 2015. Right now, during the first quarter of the year, rates are at their absolute lowest, meaning it's now or never to get the best deal on a 30-year fixed rate mortgage.
Please, buyers, heed these words: the time is now! Get in touch with us today and start your journey to finding the perfect home!