Double Whammy

Double Whammy

According to the Wall Street Journal, U.S. mortgage rates have hit their highest level since 2014 finishing the week at 4.46% for a 30 year fixed rate.  This is the ninth consecutive week that rates have climbed and the trend may continue.  The rate hike has already crimped refinancing activity and could push new home buyers out of the market. This has created a double whammy for buyers as home prices have also risen considerably.  (courtesy Wall Street Journal, March 9, 2018.)

Now,  this is good news if you're in your dream home already, but if you are  a new buyer with nothing to sell, it may seem gloomy.  However, one has to remember that even at 4.46%, this is still a bargain for borrowing money to get into that new home.  Our parents dealt with mortgage rate double and triple that, yet managed to put a roof over their head.  So don't despair, spring is upon us, and that usually means a flood of new property listings providing more selection and better pricing due to the competition.  If you'd like to find a new home, any one of our agents at Ion Real Estate can help.  We have the knowledge, experience and skill to find your home and get the best price possible.  So give us a call at 720-466-2866 and let us do the work.

Steve Stein

REALTOR

Cell: 720-353-9000

IONREALESTATE


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Author:
Phone: 720-353-9000
Dated: April 2nd 2018
Views: 170
About Steve: Steve is originally a midwesterner, growing up in Iowa and Wisconsin, but has now lived in the Denve...

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2049 Larimer St.
Denver, CO
720-466-2866
720-367-5213

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