If you’ve been on the fence about buying a home this year, you may want to make your decision sooner rather than later…
According to recent market data, interest rates on mortgages are trending higher, with rates showing a lot of volatility. While current mortgage rates are always subject to change, experts forecast rates will likely continue to edge upward, so the sooner you can lock in a low mortgage rate, the better.
Mortgage Rate Forecast At-A-Glance
- Mortgage Rates Currently Trending: HIGHER
- 7 Day Mortgage Rate Forecast: HIGER
- This Week’s Potential Volatility: HIGH
According to Sigma Research, economic data is starting to point to the Fed moving rates up in September. That should stoke the fires for many would-be buyers this summer, encouraging them to lock in a lower rate now.
What’s the Bottom Line?
Because rates have been so volatile lately, and will likely continue to be, discuss the risks and benefits of locking your interest rate with your mortgage professional. He or she should have the most up-to-date information and access to the market’s movements, and can therefore advise on the best strategy for securing an affordable mortgage rate.
Looking for a Mortgage Lender in the state of Texas?
Kelly Decker and his team of TX mortgage professionals are here to help buyers and homeowners from all walks of life achieve their dream of homeownership. Whether you want to buy your first home in the Dallas suburbs, refinance a second home in San Antonio, or explore options for cashing out your equity, Kelly Decker can help you find the right mortgage program for your needs and budget.
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