Are Mortgage Rates Finally on the Rise? Buying in DFW Now Could Mean Substancial Savings
Posted by Kenneth G. Cox on
According to recent housing report from the Federal Housing Finance Agency, interest rates on conventional purchase-money mortgages are already starting to increase slightly as we continue to push through the busy spring season and approach the summer months.
While the rise in rates is hardly a surprise and has been widely expected by many real estate and mortgage professionals, those planning to buy a home sometime in 2015 might want to move forward sooner rather than later.
Numbers published by HOUSINGWIRE show that from February to March, the average interest rate on a conventional, 30-year, fixed-rate mortgage of $417,00 or less jumped 4 basis points from 3.91% to 3.95%, while the effective interest rate on all mortgage loans in March locked in at…
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