While many people have bought homes over the past several years, a lot more families are still not finding the right home or are working out credit issues. A common question I get is how long interest rates are going to stay low. Many thought that rates would start going up a little bit towards the latter half of 2017. In fact, there was a brief uptick in the middle of the year.
However, this reversed course. All signs are pointing to rates staying low for a little while longer. This could be sometime in 2018. So it is important to evaluate your situation closely! If you are in a loan that is maturing or at a high rate, you should refinance. Should you be looking for a home, don’t wait too long. If you have questions about loan options, do not hesitate to ask. I’m Karen, your Mortgage Genie whose helping you find the home of your dreams.