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Interest Rates Are on the Rise
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Let’s talk about what’s going on with interest rates today.
There has recently been a steady rise in interest rates. When the government shut down in 2013, we actually saw a positive impact on rates. This is because the market is very, very emotional. After chaos happens, people pull money out of stock and put it into bonds.
However, this hasn’t been the case since our government shut down earlier this year. The stock market is thriving and bonds are essentially in a free fall. This is leading to a steady increase in rates.
"Home inspections can benefit buyers as well as sellers."
The bottom line is that consumers need to be informed. We may not see rates back in the 3% range again. Right now, rates are sitting within the higher end of the 4% range. This is especially true of investment properties.
For grant-based products, we’re seeing rates between 5% and 6%. We can never be absolutely sure what the future will hold, but it does appear that rates will continue to rise through the first part of 2018.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
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