Can you afford to wait to buy your home?
Mortgage rates moved up to their highest level since May of 2011 in the week ending May 24 according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). This year has been a statistical standout with rates climbing in 15 of the first 21 weeks, the largest number of increases since Freddie began tracking interest rate data in 1972.
That means you can buy less home than you could a year ago. If interest rates continue to rise, the type and location of home you want could become out of reach.
Here are the June 1 weekly rates couresty of Lion Bank.
- LaTisha Peoria, AZEverything went according to how it was supposed to go! Was great! Overall EXCELLENT!! Easiest home purchase to date for us. Tom was always available whenever we had questions, if he didn't know, he would find out the answer and then get back to us as quickly as possible.
- Bonelli'sHal Mayer made sure everything went smoothly and every detail was handled professionally with the purchase of our home. Hal was in constant communication and ready to show listings that I wanted to see. I liked the way he presented each viewing with the needed information on the property. Hal is very organized and made […]
- Jovan Bonelli Mesa AZHal was awesome.. Great job in finding properties and exceeding expectations.