While it may sound like a broken record, the ups and downs of the mortgage interest game sure are keeping us on our toes! And this week, those rates have hit the highest level since last fall.
And though it sounds bad, the average borrower probably won’t notice much of a change. The rise was ever so small - just 0.02%.
So while the headlines seem to be sounding the alarm, this latest shift is pretty much more of the same. So when it comes to buying a home, you still have options.
Talk to your lender about the different loan types available that could save you on interest rates. In Texas, that could include FHA mortgages and USDA mortgages. Another option to ask about is the benefit of buying points on your mortgage.
The key to success in today’s housing market? Working with an experienced local realtor and mortgage lender. It could mean the difference between getting into a home this year or getting left out in the cold. Reach out to Texas United Mortgage today to learn more.