We have all heard I'm waiting til rates fall in the current market. What is that truly costing you? What is that saving you? What opportunities are being lost or gained by waiting?Today's first time home buyer rates in Iowa are at an impressive 6.875% - 8.125% pending qualifications. This is a much greater rate than what the country has seen over the past 5-6 years; however, this is hovering around the market average over the past 50 years. Interest rates a critical aspect when it comes to buying power and what a person can afford monthly in a property. The purpose behind this blog is to determine if waiting is in your best interest.The main factors that set the mortgage rates are: The Federal Reserve, Bond Market, Secured Overnight Finance Rate, Constant Maturity Treasury and the overa...
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