If you need assistance, please call 702-476-0060

Don’t Wait for a Lower Mortgage Rate – It Could Cost You

Wednesday, October 13, 2021   /   by Ken Couture

Don’t Wait for a Lower Mortgage Rate – It Could Cost You

Don’t Wait for a Lower Mortgage Rate .png
The current housing market is truly one of the record books. In the past year, we have seen the lowest mortgage interest rate in history. And while those rates appeared to have bottomed out in January of this year, the golden opportunity for buyers isn't over yet. If you're one of the buyers who fears you'll miss out, rest assured that current mortgage rates are still worth tapping into.
Even today, our mortgage rates are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well below what your parents and even grandparents got in years past. The key will be acting sooner rather than later.
In late September, mortgage rates ticked above 3% for the first time in months. And according to experts throughout the industry, mortgage rates are projected to continue rising in the months ahead.
While a projected half percentage point increase may not seem substantial, it does have an impact when you’re buying a home. When rates rise even slightly, it affects how much you’ll pay month-to-month on your home loan.
In this example, if rates rise to 3.55%, you’ll pay an extra $100 each month on your monthly mortgage payment if you purchase a home around this time next year. That extra money can really add up over the life of a 15 or 30-year loan.
Clearly, today’s mortgage rates are worth taking advantage of before they climb further. The rates we’re seeing right now give you a unique opportunity to afford more homes for your money while keeping your monthly payment down.
Bottom Line
Waiting for a lower mortgage rate could cost you. Experts project rates will continue to rise in the months ahead. Work with a trusted real estate professional to seize this opportunity before they increase further.


Follow us on:

FB: Ken Couture Realty Your Home Sold Guaranteed

IG: @kencouturerealtylv

Twitter: Ken Couture

Pinterest: Ken Couture

LinkedIn: Ken Couture Your Home Sold Guaranteed

 

Contact us at:

Ken@CoutureRealtyLV.com

702-476-0060

Couture Realty
Ken Couture
8367 W Flamingo Rd Suite 101
Las Vegas, NV 89147
702-476-0060

UP5DB701E1507748.jpgThe data relating to real estate for sale on this web site comes in part from the INTERNET DATA EXCHANGE Program of the Greater Las Vegas Association of REALTORS® MLS. Real estate listings held by brokerage firms other than this site owner are marked with the IDX logo. The information being provided is for the consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. GLVAR MLS deems information reliable but not guaranteed. Copyright 2021 of the Greater Las Vegas Association of REALTORS® MLS. All rights reserved.
This site powered by CINC: www.cincpro.com