Are Mortgage Rates on the Rise?

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Today we are excited to talk to you all about what mortgage rates are doing and how they affect buyers and sellers. If you’ve been keeping an eye on the market lately, you’ve probably noticed mortgage interest rates creeping up just a little bit. 

They haven’t gone up by a crazy amount, but prices are steadily creeping up and a lot of people have said that with these increases, home prices will become a little more stagnant. If you’ve been watching the market, you know that home values have been sneaking up as well. 

You don’t want to wait too long to take advantage of these conditions. The more interest rates rise, the less people will be able to afford. We’ve seen a steady increase in pricing in this market and we are probably going to see prices continue to increase for a little while longer, before eventually leveling off. 

We’ve seen hot markets throughout Charleston with a lot of first-time home buyers where prices have been increasing even higher. If you have been on the fence about buying, you have an opportunity to do so now and lock in a fantastic interest rate before they increase even more. 

If you have any questions for us, we’d love to speak with you. Just give us a call or send us an email. We look forward to speaking with you soon!