December 15th Market Update: Round and Round and Round we go.

Good Morning,

We are continuing the trend of slowly rising interest rates since November 23^rd.  There really hasn’t been too much changing or financial drama going on over the past week and that is one of the main reasons this pattern is continuing.

So, this got me thinking: We’ve had ridiculously low rates for so long I decided to take a look back and see where interest rates were at this time last year, and then two years ago.  Last year on December 16^th our 30 year fixed rate was exactly the same as we have now at 5% and two years ago in mid December we were at 5.625%.  So, all the more reason to be satisfied that we still have rates as low as they are.

When you consider where both home values and interest rates are, buying a home in this market can make a lot of sense for investing. Considering both the low interest rates and home values being where they are at, we may look back 5 years from now and all wish we purchased an investment property for the future.

Thanks

Matt

Rates: 30 year fixed at 5.00% and the 15 year at 4.375%, FHA: 4.875%: As always rates change with individual credit scenarios and programs, with credit in the mid 700s and a 20% down payment these rates are what you should be seeing.