Rates creep up...everyone starts to panic. Rates creep down...everyone else starts to panic!
While our rates have started to creep up a bit at the end of 2016, they are still historically quite low. Finishing out 2016 at around 4.125% is pretty sweet, considering that at the end of 2013 the rates for a conventional 30 year mortgage was closer to 4.625% - and we thought that was fantastic.
Over the past 3 years we’ve seen rates dip as low as 3.50% on a 30 year conventional mortgage - (that rate assumes you have some pretty stellar credit along with several other things).
So knowing that - what are we to think about 2017? I believe we’ll still be cooking along under 5%, but they will continue to creep up. We may have a few months where we see it dip a bit, but I don’t think we’ll get back to under 4% anytime soon. (If I’m wrong, I’ll be very happy to admit it!!!)
2016 from June to September was a GREAT time to purchase a home!
If you are curious what great rate you would qualify for, Contact Kim Hazzard with Tucker Mortgage at (317) 841-8880, or firstname.lastname@example.org
Above rates are based on 30 year conventional loans and have some specific credit requirements amongst other things. The best way to really know what you can afford, is to sit down and talk with a loan officer.