The perils of waiting to tell you that mortgage interest rates are headed back up


The perils of waiting to tell you that mortgage interest rates are headed back up
By Scott Rogers • April 3, 2012
If I had been a bit more timely, and had broken this news about a week ago, I might have told you that THE SKY IS FALLING, LOCK IN AN INTEREST RATE NOW. Indeed, mortgage interest rates made a considerably two week jump from 3.88% to 4.08%. Many predicted that the end of low mortgage interest rates was nigh. As is typical, one data point can distort one's perception of reality. So, let's take just one more data point and reassure ourselves about our previous perception of reality. :) As you'll see above, the jump to 4.08% may have been an anomaly, as average interest rates fell back below 4% the following week. The big picture is something we've known for a WHILE now -- these ridiculously low mortgage interest rates won't last forever -- though it could be quite a while before they may any meaningful increases (over 4.5% or 5.0%, for example). Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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