The rate of fixed 30 year U.S. mortgages rose to 4.41 percent. They are still at very low levels. This news came from the information provided by Freddie Mac. Furthermore, for the average of 15 year U.S. mortgages, rates increased from 3.42% to 3.47%. According to CoreLogic, a real estate data provider, U.S. home prices have increased at a decent rate last February, which would indicate that the supply of homes is more strict. As winter is finishing, it is predicted that sales of available homes will increase due to various factors, such as the season for spring buying about to occur.
While it may be more expensive to buy a house now, the increase in interest rates is probably a good thing as it indicates our economy is becoming better. These interest rates should still be low enough for it to be relatively affordable to still get a home, so should not be too much of a burden.
ReplyDelete