Interest Rates Are Climbing
Tags: salem sc real estate, interest rates, walhalla sc real estate
The elections are over. The interest rates are on the rise. The week before Thanksgiving the rates went up 1/4 point. Gas prices have stabilized and I expect to see the interest rates to continue up till the economy recovers.
If you are waiting to buy because you want the lowest prices, you will need to wait longer. If you want low prices and a low interest rate, now is the time to buy. Our inventory is good, rates are better than they were when my parents bought their 1st home in the 60's.
1/4 point on interest rates does not sound like a lot till you start qualifying for a loan. Call me if you need a list of lenders to contact. We have local lenders as well as mortgage companies that will shop rates and terms.
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