Mortgage rates soar to 7.23%, a 22 year high, don't be scared.

Real Estate Agent with eXp Realty (888) 397-7352 Ext:1148 RS282607

US mortgage rates soar to 7.23%, a 22-year high

Many see the initial numbers that are floating around on many media outlets that create a frenzy and or fear, doom and gloom, however, when we all understand the numbers, it is not the end of the world.

Rates rising can be frightening but there was a time interest rates were well above 10 - 15%, and people were still buying homes in Philadelphia. Having a conversation with an educated real estate agent and mortgage broker that is in the know will help you in the long-run, but for starters, here are 5 basic steps to get you thinking while in the Philadelphia real estate market.

1. Refinance your Mortgage

2. Make additional payments

3. Make one additional payment per year

4. Round up your mortgage payment

5. Dollar a Month Plan ( ex: $1,300.00 next month $1,301.00, following $1,302.00... )

6. Use unexpected income

Once those payments are decreased and or mortgage is paid off, it is an opportunity for a savvy individual to re-invest those funds to create a nice nest egg.

To schedule an appointment with a  savvy mortgage broker click >>> HERE

To schedule an appointment to speak with a savvy REALTOR® click >>> HERE

***Article from CNN Business ***

Peter Lavelle RS282607 EXP Realty

Call /Text 215-965-4465 Office: 888-397-7352 X 1148

Not intended to solicit clients currently under contract with another broker.

Posted by

Peter B. Lavelle

"Marketing Your Home for All It Is Worth"



 Real estate is a people business and you deserve to be treated with the utmost respect, as well as having an agent that will "Do the right thing ALL the time, EVERYTIME."

I believe in challenging the status quo by being different, being original, leading the way, and understanding that attitude reflects leadership.

As a mentor to many youth in our area, I build my business to help them in their path and journey to being leaders in their own right. Please join me in helping to provide for them their path to success.


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