Regardless of your outlook, one thing is for certain, we are still in a historically very low rate environment. For example:
Last 42 years historical median rates for 30 year fixed mortgages:
8.15% over the past 42 years
7.45% over the past 30 years
6.52% over the past 20 years
5.72% over the past 10 years
Too often you only hear of the “bad” experiences. I’m proud to say with just under 1,200 closings in 2016 including HELOC’s, in-house deals, and Secondary market mortgages, we’ve not had many “bad” ones. We appreciate everyone’s help, support, and hard work.
I wouldn’t be doing my job if I didn’t remind you….If you’ve not refinanced it still is a very good time to do so? If your neighbors, friends at church, children, etc. say they think rates have gone too high for them to consider building, buying, or refinancing their home you might want to remind them of the historical medians….