Mortgage interest rates are rising. In the past few months, rates have risen by nearly quarter of a percent. The Mortgage Bankers Association, as well as the National Association of Realtors, are calling for rates to increase by a quarter percent by 2019.
The FMOC (Federal Open Market Committee) recently voted “unanimously to approve a 1/4 percentage point increase in the primary credit rate to 2.75 percent.” This increase in the primary credit rate has translated to an overall jump in mortgage interest rates as well.
While rates have risen, we must keep in mind they are still low historically. If you are considering buying a home, now is the time lock in rates before they go higher. TheCPMteam works closely with Motto Mortgage to help our buyers navigate the loan process in St Petersburg. Please contact Tammy@theCPMteam.com for more any home buying questions.
When you love what you do, its not work, it’s our passion! The CPM team