Mortgage Rates on the Rise After 30 Years

Mortgage Rates on the Rise After 30 Years

mortgageIf you’re buying a home in Denver this year, you should know that 30-year fixed mortgage rates were on the rise for the second consecutive week. From the last week of July’s, 4.24 percent, rates the week of August 6th rose to 4.28 percent.

Higher mortgage interest rates translate to higher monthly fees, so you have to consider how fluctuations can affect your payments and consequently, your budget.

But don’t be alarmed. Rates are expected to remain more or less stable. With the way the trend is going, they are not expected to go beyond 4.5 percent this 2013. Also, as long as they stay below 8 percent, there’s nothing much to worry about, according to this CBS article. Relatively, 4.28 percent is still a low mortgage rate, and people will most likely rush to buy a new home.

Don’t wait for rates to rise again. Purchase your dream home now while the numbers are still good. Let me help you find your dream home!  Call me today at 303-478-1201.