Every homebuyer hopes to get the best possible mortgage interest rate. Lucky homebuyers have been able to snag some extremely low rates. But with the economy headed gradually in a positive direction, the Federal Reserve won’t maintain such low interest rates forever.
Most mortgage bankers agree that rates will rise over the next twelve months – perhaps rising above the five percent mark as soon as the second quarter of 2014.
What does this mean for homebuyers? Prospective buyers should not waste time in shopping for a mortgage. With more stringent lending guidelines and new policies, the application process may take a little longer. Anyone looking to buy a home should begin the loan pre-approval process as soon as possible in order to lock in the most attractive rates possible before they begin to rise.
We work with some of the best mortgage professionals around! Call VIP Group today and we can help you get that process started, so we can get you in that new home quickly!
REALTY TIMES, JANUARY 30, 2014