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The perils of waiting to tell you that mortgage interest rates are headed back up |
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![]() 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). Recent Articles:
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Scott Rogers
Funkhouser Real
Estate Group
540-578-0102
scott@funkhousergroup.com
Licensed in the
Commonwealth of Virginia
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