Mortgage Rates a Hot Topic as New Year Begins

Opportunity Knocks

I have never seen a more opportune time for buyers to jump into the market than right now. Rates are expected to rise. Inventory may also decrease making NOW the opportune time to purchase. 

The final days of 2013 saw a flurry of real estate news involving interest rates and mortgages. Some news offered relief for homebuyers, while other announcements made it all but certain that interest rates will climb noticeably higher in the new year.

In mid-December, federal home-loan guarantors Fannie Mae and Freddie Mac said they would soon boost the fees they charge lenders, with the added cost passed on to homebuyers as higher mortgage rates. The fees would hit homebuyers with small down payments and less-than-perfect credit scores the hardest.

Get the full story at https://compasscaliforniablog.com/mortgage-rates-hot-topic-as-new-year-begins