AgentOwned Realty
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A World of Changing Rates

Posted By: Rick Sanchez In: Mortgage Rates
Date: Thu, May 11th 2017 12:11 pm

In a world of climbing and ever changing interest rates, there is no better time than NOW to buy and sell real estate. Earlier this year the Federal Reserve Bank raised the historically low short-term interest rate by .25% and pledged to increase the rate another two times before the end of 2017. This important rate effects everything from Adjustable Rate Mortgages also known as an ARMs, Home Equity Lines of Credit known as HELOCs and credit card interest rates. While this... “short-term” rate is not directly tied to long-term mortgage rates, it can have an effect on mortgage loan rates. Surprisingly, after the short term interest rate increase earlier this year, the mortgage rates actually dropped by .25% but with homes values at a 10 year high and two new rate hikes promised before the end of 2017 you DO NOT need to wait to buy your first home or sell your existing home. Contact R and J Properties today at www.RickandJimProperties.com and let us help you get started.