Welcome to the AllIdahoFallsRealEstate.com Blog

2018-10-02 14:30:22
Mortgage Interest Rates are Still Going Up… Should You Wait to Buy?

Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates to rise another quarter of a percent by next year.

In addition to the predictions from the four major reporting agencies mentioned above, the Federal Open Market Committee recently voted “unanimously to approve a 1/4 percentage point increase in the primary credit rate to 2.75 percent.” Historically, an increase in the primary credit rate has translated to an overall jump in mortgage interest rates as well.

This has caused some purchasers to lament the fact that they may no longer be able to get a rate below 4%. However, we must realize that current rates are still at historic lows.

Here is a chart showing the average mortgage interest rate over the last several decades:

Mortgage Interest Rates are Still Going Up… Should You Wait to Buy? | MyKCM

Bottom Line

Though you may have missed the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.

 
Blog Archive
2018-12-07 15:09:36
The Tale of Two Markets

2018-12-06 14:15:21
Try Just One More Time

2018-12-05 18:11:20
Where Are Interest Rates Headed in 2019?

2018-12-04 11:39:33
Homeowners Aged 65+ Have 48x More Net Worth Than Renters

2018-12-03 13:05:09
4 Reasons to Buy A Home This Winter!

2018-11-30 21:00:10
7 Items to Check Before the Big Freeze

2018-11-29 11:38:26
Further Proof It’s NOT 2008 All Over Again

2018-11-28 16:47:22
24% of Renters Believe Winter is the Best Time to Buy a Home

2018-11-27 23:05:22
The #1 Reason to Not Wait Until Spring to Sell Your House

2018-11-26 13:26:24
Buyers: Don’t Be Surprised by Closing Costs!

2018-11-21 17:02:47
3 Things Homeowners Are Thankful For

2018-11-20 08:56:10
Females Are Making It a Priority to Invest in Real Estate!

2018-11-19 15:57:52
7 Reasons to List Your House For Sale This Holiday Season

2018-11-16 15:07:50
The Cost of Renting vs. Buying a Home

2018-11-16 07:41:28
Home Sellers in Q3 Netted $61K at Resale

2018-11-12 11:50:14
How to Honor a Veteran Today and Everyday

2018-11-09 14:48:08
Highlights From This Month's Update

2018-11-08 09:17:02
75% of Renters Have Been Misinformed

2018-11-07 12:23:55
Why Has Housing Supply Increased as Sales Have Slowed Down?

2018-11-06 08:36:44
2 Myths Holding Back Home Buyers

2018-11-02 15:27:21
Are We Heading Towards Another Housing Bubble?

2018-11-01 12:34:52
How Will Home Sales Measure Up Next Year?

2018-10-31 10:19:23
Taking Fear Out of the Mortgage Process

2018-10-30 08:59:30
Are You Spending TOO Much on Rent?

2018-10-29 20:01:13
Thinking of Selling Your Home? Here’s Why You Need A Pro in Your Corner

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.