Freddie Mac released their latest interest rates and the trend towards slight increases continues.
On a 30-year fixed loan, the rate rose from 3.59% last week to 3.62% this week. On a 15-year loan the rates rose from 2.84% last week to 2.88% this week.
What does it all signify? Chances are we have seen the end of the record-breaking low interest rates. As the real estate market continues to stabilize, rates will rise gradually until a proper balance is found. Where that balance is remains a huge point of speculation.
All economic signs continue to point at a gradual improvement in the market. It remains to be seen, of course, what effect the national elections in November will have on the market, and chances are that we will see hesitancy on the part of investors until the political landscape becomes better defined after November.
However, for the average home buyer, if it makes financial sense, there have been very few times when it was a better time to buy or sell your home. If I can help, or you’d like a free newsletter to be kept up to date on Seattle real estate, please sign up for my newsletter!
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Photo by 401(K) 2012 on Flickr.