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Sign into your accountRising Mortgage Rates Fail to Dampen the Buyer's Market
July 16 2017
2016 was a stellar year for buyers, witnessing mortgage rates below 3.75 percent all summer on the average 30-year fixed-rate mortgage. With the steadily rising interest rates of today's real estate financing trends, currently at around 4.5 percent and climbing for the typical FHA loan, you'd think there would be some sort of sales slowdown – but that couldn't be further from the case.
Flying High
Home sales are moving on up – flying in the face of rising interest rates. This may slow increases in housing prices, but it's still expected to remain a seller's market across most of the United States for 2017. And because interest rates still remain historically low overall (despite multiple raises by the fed), 2017 remains a great time to purchase a home – and buyers are scrambling to take advantage.