Mortgage Monday: Rates On the Rise

Interest Rates for Home Mortgages Are On the Rise

Mortgage rates for home loans have begun creeping upwards at a time when consumer confidence has begun to rise. Some analysts are saying that the rates started to rise in anticipation of the spring home buying rush. That is when one of every three homes sales occurs.

The economy is starting to recover, but the housing market is still being hurt by foreclosures and bank-owned property, both of which are driving prices down. With the lower prices and interest rates still around 5%, it is a very good time to buy.

Contact your real estate agent and find that dream home you always wanted to buy but didn’t think you could afford. You may just find that you can afford it and you will assist the real estate market to get back on track. If you do that you can take pride in knowing that you have done your part to help the economy to recover.

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