The Mortgage Bankers Association (MBA) economists have revised their mortgage interest rates projections and are now predicting a slower than anticipated increase. The interest rate for 30-year mortgages are still projected to be in the high 6% range by fourth quarter of 2012. The revision is in how quickly the 30-year mortgage interest rates will rise from their current levels of high 4% range to the high 6% range.
In their June 11th forecast, the MBA economists predict the 30-year mortgage rates will gradually rise to 5.4% during the fourth quarter of this year, climb to 6% by fourth quarter of 2011, and reach 6.6% by fourth quarter of 2012.
If you are considering purchasing a Spring Texas home, a gradual increase in mortgage interest rates is good news. As it gives you time to find the right house without feeling you have to quickly make a decision before the interest rates skyrocket.
Mortgage interest rates have a significant impact on how much Spring Texas home you can afford and how much interest you will be paying over the long run. The table below identifies how much that 1% jump in mortgage interest rates will cost you.
With out a doubt the best Realtor we have ever dealt with. Easy to work with, very knowledgeable and I... read moreWith out a doubt the best Realtor we have ever dealt with. Easy to work with, very knowledgeable and I believe saved us quite a bit of money on the purchase of our current house.
During construction Jill was very helpful during the various walk-through stages, knew how to work with the builder and gave great advice in choosing design elements.
She was well organized and always available when needed.
For these reasons and more I highly recommend Jill and have recommended her to friends.
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