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“OMG Mortgages Interest Rates Are Almost 4%! “

Author: Fernando Herboso / Category: Clarksburghomesforsale

“OMG Mortgages Interest Rates Are Almost 4%! “

(original article) 

mortgages

A lot of people may not remember life during President Jimmy Carter years. .I know I do.

It was the late 70’s

Interest rates were in some cases as high as 20% 

Unemployment was rampant and so was gas shortages all around the nation. 

You had to get in line to put gas in your car…and sometimes gas stations had empty tanks.

Now is 2016 

and I heard the first complain of 2016 from a customer that just signed up to our website, 

“OMG Mortgages Interest Rates Are Almost 4%! “

My customer was right, 

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks.

Following suite,  Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors are all calling for mortgage rates to continue to rise over the next four quarters.

This has caused some home buyers  to reflect to this fact

The days of 3% Mortgage Rates are over.. and they ask themselves this question?

Should I go ahead and buy a house in 2016? 

My first thought was:

“c’mon man! , you should realize that current rates are still at historic lows”

Do you want to see the proof?

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

If you are thinking on buying a home in 2016 

Be happy that the interest rates are still  around 4% 

It could be the 70’s all over again…

{insert imaginary music “Stayin’Alive here now}

 

 

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