Freddie Mac released its survey results showing the 30-year fixed rate mortgage (FRM) averaged 4.43 percent for the week ending March 1. That is up 3 basis points from last that averaged 4.40 percent. This time one year ago there was an average 30-year FRM of 4.10 percent.
Typically in the past, when mortgage rate rise, there is a dip in the housing market. This year with the surging economy and restrained housing market demand, there is still moderate growth expected for this year.
With that being said, we are anticipating to see interest rates and housing prices to continue to rise through this year. If you are on the fence to buying, the sooner you get off the fence the better. Let us help you with a free Cost-to-Wait Analysis consultation to help you off the fence.
Take a look at this article for more information: http://freddiemac.mwnewsroom.com/press-releases/fixed-rate-mortgage-rates-rise-for-eighth-consecut-otcqb-fmcc-1328514?utm_medium=Email&utm_source=ExactTarget&utm_campaign=%20mnw_nr