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My top two commonly asked questions!

There has been lots of hype over the last month or so of mortgage rates increasing. The media took this news and ran it for weeks instilling fear into many. I am pleased to report to you that after this initial HIKE of about a half percent, we’re now seeing many lenders adjust their rates DOWNWARDS a bit. I’ve yet to hear the media talk about this!

The most commonly asked question I get is “Carrie, what do you think is going to happen with interest rates?” Let’s look back 5 years ago, I was writing mortgages in and around the 3% range, today we’re still under 3%. 5 year ago Prime Rate was 3.00% and today it is 2.90%. Eventually the rates will rise, they have to, we’ve been low for a long time. My thought is all in moderation and nothing wild and crazy anytime soon. I always say, keep in mind a quarter percent is still an increase!

The second most asked question I get is “Carrie, is this a good time to invest in real estate?” My answer is YES, it is a buyer’s market and with rates STILL low, this is a great time all around!

If you’d like to chat more about your personal mortgage, I’d be delighted to explore your options!

-Carrie