With Mortgage Rates Climbing, Now’s the Time To Act

Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Here’s a look at the projections from Freddie Mac for this year:

>>Q1 2022: 3.4% >>Q2 2022: 3.5% >>Q3 2022: 3.6% >>Q4 2022: 3.7% As the numbers show, this jump in rates is in line with the expectations from Freddie Mac. And what they also indicate is that mortgage rates are projected to continue climbing throughout the year. But what does that really mean for you? As rates increase even modestly, they impact your monthly mortgage payment and overall affordability. If you’re looking to buy a home, rising mortgage rates should be an... #firsttimehomebuyer #opportunity #housingmarket Welcome HŌM