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“Last Call” to Buy Your Charlotte Home?

The question posed in last week’s Realtor.com article was certainly scary enough: “Is It Last Call for Low Mortgage Rates?” If you have been putting off getting ready to buy your next Charlotte home, it could well have been a potent call to action. For the normally staid Realtor, it was an unusually pointed dispatch.
The article’s opening line, “All good things come to an end…” is what many Charlotte home loan rate watchers have known to be true enough—yet for years now, when it comes to the financial benefits that accompany low mortgage interest rates, the prospects for losing the resultant buying power has seemed to be a distant threat. But although by historical standards, Charlotte mortgage interest rates are still relatively favorable, the drift is clear: that advantage is rapidly slipping away.
“After hitting historic lows,” author Chris Parker writes, “average mortgage rates” have already climbed to peaks not seen since 2014. Even more alarming for prospects preparing to buy Charlotte homes, there is ample reason to suspect more hikes are on the way.
After referencing new Federal Reserve Chairman Powell’s expectation that the Fed will “gradually” increase rates, the article raised the immediacy quotient several notches. According to the ... more

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