INTEREST RATES: WHAT GOES DOWN, MUST EVENTUALLY ... GO UP?

Dated: February 22 2021

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Historically low home mortgage interest rates have given everyone with credit scores at or better than around 620 fantastic longterm savings on their home purchase for nearly a year, now. 

 

Well, on Tuesday, alone, rates nudged up .25%. Right now, the 30-year fixed rate (according to Bankrate.com) sits at 3.050%. A week prior it was at 2.970%, so there's been some settling. 

 

Hey, no big deal, really; it's all a matter of perspective. February 2011 rates were near 5% and just a year ago, just below 3.5%. This is still an incredibly inexpensive time to borrow money to buy a home, but we're keeping our eye on these rates all the same. 

 

Even if your credit is BARELY good enough (620 or better), you're going to enjoy BETTER rates now than people with fantastic credit were getting in 2011 and about what they were getting a year ago. 

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Ron Roberts

Hi! I’m Ron, a Georgia-born Atlanta resident and real estate agent ready to put my education, personal and professional experience and work ethic into helping you embittered your new home, sell your....

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