Mary’s Maui Real Estate

Mortgage Interest Rates: On Their Way Up? While no one knows for certain, many experts predict that interest rates will gradually increase.  In a recent interview with U.S. News, Weiss Research analyst Mike Larson said it would not be unlikely for us to see a one-half percent increase on a 30-year fixed mortgage rate in six months, and a one percent increase a year from now. With the 30-year fixed rate still historically low at around 6 percent, now is a good time for homeowners with variable rate loans to consider refinancing into a fixed rate loan.

 For home buyers waiting for housing prices to drop, it’s a good time to evaluate how a change in interest rate affects buying power.  
Got questions on what a 1% increase could do for your payment or your purchase power based on amount of house you may be able to afford…..  Drop me an email with a purchase amount and I can have a mortgage specailist work some numbers up for you!  Mary@maryonmaui.com

Mary on Maui

http://www.maryonmaui.com

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