Discussing Rising Interest Rates For Mortgages

Discussing Rising Interest Rates For Mortgages

Interest rates for home mortgages have begun to rise but there’s no reason to panic. Rates still remain historically low.


According to an article published in REALTOR® Magazine recently quoted mortgage rates rose from 3.5% to 4.125%. What this means to a typical buyer is that for every $1,000 borrowed on a 30 year loan your payment will rise by only thirty-six cents!


Owning a home is still the American Dream and, most importantly, is still attainable even with rising interest rates. Another thing to keep in mind is that, unlike rent payments, the interest on a mortgage payment is tax deductible.


Home ownership is still a bargain! Start looking for your piece of the American Dream here. 


Bonnie Onofrio Headshot
Author:
Phone: 919-208-8007
Dated: January 6th 2017
Views: 199
About Bonnie: I have been a real estate broker in the Triangle area since 1985 handling sales of both new and resa...

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