When Is The Right Time To Get a Mortgage?
Every year people who seek to move into their own house meet this dilemma, at the beginning of 2015, many of them struggle with the same question.. is it the right time now to get a mortgage? Some experts will say that the ever low mortgage rates are over, others will say not to wait until they become high again. We have collected information to help you get a clearer picture about the timing of a 2015 home loan.
2015 Mortgages Will Rise
The experts of Mortgage Reports believe that the rates will rise:
But can low interest rates last? Consumers say no.
According to a monthly survey conducted by government-backed Fannie Mae, 93% of U.S. consumers think mortgage rates have stopped dropping. Rising rates would close the refinance window for many U.S. homeowners while increasing the cost of homeownership for todays active buyers
Today, mortgage lenders quote rates and APRs in the 3s. By 2016, consumers say, prices will be worse. See more..
2015 Mortgage Rates Hit Rock Bottom
As mentioned KHQA Newsdesk experts see the present as an opportunity..
Rates have dropped to their lowest level since May 2012.“They are at a historical low right now. The average for the United States is about 3.81-percent for a 30-year fixed mortgage, which is really low. So if you’re in the market to buy or looking to refinance your home, now would be a good time to get in on that,” Lindsey Kramer, loan officer at Members First Community Credit Union in Quincy, said.Mortgage rates have fallen for the fourth straight week, hitting a 20-month low.According to Freddie Mac, just one year ago, the average 30-year mortgage rate stood at 4.39-percent and a 15-year mortgage at 3.44-percent. Check more here..