5 REASONS NOW IS A GREAT TIME TO BUY A HOME
By: NAR REBAC Staff Posted: 05/29/20171. Interest Rates are Rising
After years of historic lows, interest rates are edging up. This started late last year when the Federal Reserve increased its benchmark interest rate by a quarter point in December, and again in March. Experts are expecting three more upward adjustments during 2017. (Buyers should remember this is a projection, not a promise.)
The fact remains that interest rates were lower a year ago, and that the trend of increasing interest rates is expected to continue. In fact, current homeowners with an adjustable rate mortgage may want to consider securing a fixed rate loan before rates increase further.
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