Interest Rates Are Creeping Up
Just over three months ago, I wrote a blog article in the Tallahassee Real Estate Blog that examined the relationship between Home Prices and Interest Rates in determining the time to buy a home. It has been the source of numerous comments and debates in several real estate forums on the Internet. If you refer back to that article, I suggested that future rising interest rates would make a cheaper house less affordable. While I figured that it was highly likely home prices would be falling, I knew that rising interest rates would leave most buyers with higher monthly payments. Sure enough, mortgage interest rates are rising, as you can see in the chart below. So, even if you are not thinking about buying a Tallahassee home, you might want to look into refinancing your home. Back in April, I wrote a blog titled When Should A Mortgage Be Refinanced? This could be a good reference to review before contacting a real estate mortgage lender. On another note, here are some of our most popular features on the Tallahassee Real Estate Web Site:
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Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
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Home prices are increasing up with such a great pace that to stop it, is become a challenge in itself. Let's see what could be done in this regard.
Anyways, thank for this very informative post.
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