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Mortgage Rates On the Rise

Posted on July 31, 2013

MH900387703While mortgage rates are still considered to be historically low, they are also on the rise. This puts pressure on not only buyers but sellers of homes looking to upgrade their current living situation.

Now is a wonderful time to shop for Northwest Florida real estate as there are many homes available for sale in Destin, Fort Walton Beach and the surrounding communities. Finding one you love quickly is what counts now, however. Many buyers are finding that the interest rates they qualified at when they began shopping are steadily taking a jump. This can have a great affect on monthly budgets and how much home a buyer can afford. Those seeking to buy a home have found themselves in quite a hurry to lock in their rate.

This can factor in to not only a buyer’s budget, but also a seller who was looking to sell and take advantage of profits and lower interest rates to upgrade to a newer home. If you are buying or selling a home currently, speak to your dedicated RE/MAX Southern Real Estate agent today about current mortgage rates and current trends in the market.

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