The holiday season is upon us. The hustle and bustle of decorating, parties, toasting with friends, and sharing traditions with family is here. It’s also a time when people reflect and start making plans for the new year. For many, perhaps it’s time to buy a vacation home, make a move to a new part of the country, or downsize. How is the market wrapping up for 2016?
Interest rates are on the move. They’re on the move up and this can impact how much you qualify for a loan. A 30-year fixed rate mortgage is at its highest since 2015. It has risen 0.5% since the election. The good news is the rates are still favorable to consumers and continue to be historically low. The bad news is rates on all types of loans are expected to continue to rise as we move into 2017.
If you’re thinking about buying, selling, or both, this may be your opportunity to do so before the rates surge. You won’t be the only one out there trying to take advantage of the current rates.
Please contact me. I would happy to list your home, help you find your next home, or both! And of course, cheers to you and yours!