Interest Rate Update

The Bonds have climbed up to their hightest level in five years. This puts pressure on the Mortgage interest rates.  The outlook for the summer is for the rates to continue to climb.  As the rates climb a Home Buyer can qualify for less home.  For example, a .50% increase in interest rates causes a Home Buyer to qualify for $15,000 to $20,000 less home. If you are in the market to buy, now is the time to lock in the interest rate while they are still in the 6's and not wait until they climb into the 7's.