Moscow Pa Homes For Sale - Interest Rates Moving Up

Real Estate Agent

The Scranton Times reported this week that interest rates for 30 year fixed loans have risen.

Interest RatesThe mortgage interest rates can rise and fall driven by our economy and other economic indicators.

For several weeks we saw interest rates below 4%.  That is a record low in our country. 

In 2005 a mortgage for $100,000.00 at 6.5% would cost $6,500.00 per year in interest.

The same loan last month at 3.92% would cost $3,920,00 per year.

The interest rate has a direct bearing on how much home you can afford to buy.

Currently it is reported the average 30 year fixed rate mortgage jumped to 4.08%.
  How long interest rates will stay this low is anyone's guess.

If you have been considering a home purchase it's a good time to contact a Realtor and explore the current home inventory.  It is doubtful that interest rates will drop again.  More than likely they will be inclined to increase rather than decrease.

We have reliable mortgage originators we can refer, who will help you determine how much home you can afford.


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Lending / Financial
Pennsylvania Lackawanna County Moscow
Localism Beta
Posts to Localism
Moscow Pa Homes For Sale
moscow pa houses
moscow pa homes interest rates
mortgage interest rates moscow pa
mortgage rates increase in moscow pa

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Bonnie Vaughan

CNE SFR - Buyers/Sellers - Lackawanna & Surroundin
How can I assist you?
Spam prevention