On Monday, Nerdwallet released the average mortgage rates in the country.
The 30-year has had a sharp increase week over week and the 15-year has had an almost as sharp decrease. This may relieve those itching to buy a new home if they are willing to take a chance on financing a home over 15 years instead of 30. Before deciding, consult your lender on what you need to be ready for once you reach year 15.
The Federal Reserve Bank meets next week, so we’ll be paying close attention to what comes out of that meeting.
What do we see in the New Orleans Market? Check out our Monthly New Orleans Market Review, which comes out the second Thursday of the month! Read the February Snapshot now!
If you have any questions about strategizing whether to buy now or later, please feel free to contact our team of Real Estate Advisors. We can help you make the wisest decision for you!
Questions? Reach out to one of our advisors for a chat!
Link to full Nerdwallet article: https://www.nerdwallet.com/article/mortgages/mortgage-interest-rates-forecast