Mortgage Rates

Did you know the difference in monthly payments if you lock in your mortgage at 5% instead of 6% or 4% instead of 5% or even 8% instead of 9%? The reality is that an increase of 1% in mortgage rates will correspond to a 10% increase in your monthly payments. The net result is that increases in mortgage rates decrease your buying power. If you are in the real estate market, it is important to take advantage of the current rates before they increase. Make sure you call your favorite LOCAL lender today.