Aug. 16, 2013
Mortgage rate trends and Greenville North Carolina
Typically within one hour of meeting my Greenville NC Real Estate clients they ask me what do I think mortgage rates are going to do go up or down. The interest-rate on typical mortgage loans dictates the price range of the home clients typically look for. If rates are going up that means the payment will be higher which means the client will typically look for a lower priced home than what they were thinking. When interest rates are falling clients can look for a more expensive home.
I typically advise clients to talk to a local mortgage lender. There are several reasons why I recommend you visit a mortgage lender first, even before looking at property. Here are a few important reasons to speak to a lender prior to searching for a home;
1. Many of the larger lenders have an economist that send newsletters to the local mortgage officers with their interest-rate trend forecast for Greenville NC Real Estate.
2. The local mortgage officers can provide you with a preapproval letter which is very important in negotiating for home.
3. The local lender can advise you of any special local financing that is available. There is some local financing in different areas of the county banks target. Also state funded financing is available from time to time in different areas. The bottom line is we want to provide you with the lowest interest-rate and best mortgage product to meet your needs.
Mortgage information on Greenville NC Real Estate changes quite often and it's smart to start with a good lender prior to searching for your home.
When you work with me Gail Hanlon, REALTOR, I can assist you with speaking to some of the leading lenders in the area and letting you make a decision that is best for you.
Also, When I am asked my opinion on mortgage rate trends I reference the following. I have a basic understanding of economics. When the economy is heating up there will be a larger demand on money which will increase the price i.e. the interest-rate you will be paying. If the economy is in a recession rates go down. When the economy appears to be going sideways rates are pretty stable.
I visit this link: http://www.bankrate.com/news/rate-trends/mortgage.aspx
They have panelist and it's interesting to see what the economists think interest rates are going to do. We try to absorb all of this information and create a strategy just right for you.
I would enjoy discussing financing with you if you choose me as your REALTOR. Give me a call today for Greenville NC Real Estate or Greenville NC Homes.
Posted in Mortgage Rates