We thought that things were headed in the right direction when it came to interest rates, but just as they started to come down, the US got involved in another major conflict. That, among other factors, has led rates to come back up a little bit, and for homeowners who were waiting, that’s a troubling sign. So, if you’ve been thinking about making the move from renting into homeownership, or if you’ve felt trapped in a home you bought during the pandemic, it’s important to keep your eyes peeled. Paying attention to mortgage rates can help you to make a change when it’s most beneficial for you.
Here at Family Home Loan Texas in Frisco, TX, we work with North Texan families to get them into a house that makes sense for them. Our office is proud to be a real resource for people in the Metroplex, as we know how complex and often confusing buying a home can be. Whether it’s your first time through this process or you have been here before, we can help you make sense of your real estate moves.
With military action in Iran, mortgage rates have been on the rise. Talk to Family Home Loan Texas to see if buying a home now can help you avoid an interest rate spike.
Mortgage Rates Have Started To Climb Again
Just as we thought we were headed toward significantly lower interest rates, something happened. While lowering rates was a real point of emphasis for this administration, even calling for the Federal Reserve to adjust them, recent moves have made that tougher. And yes, the Iran War has an actual impact on rates here in North Texas.
You see, the market hates uncertainty, and we’re just not sure where things are headed. When you couple that with increased oil prices, it’s led to about a .33% higher mortgage rate in just over a month. So, things, are moving, and not in a direction that benefits you.
But That’s Opening Up Opportunities In North Texas
While increasing mortgage rates might seem like a problem, they could actually work to ease housing congestion in the Metroplex. Some homebuyers will inevitably choose to stay where they are, cooling the market and making the purchase process a little less hectic for those who do buy. It’s about finding the time that is right for you, and this might be it. Let’s talk about your direction to make a plan.
Find Your Next Home With Family Home Loan Texas
If you’re ready to find a home that’s right for you, talk to a team that’s helped many North Texans find theirs. To learn more about our office or to schedule a time to talk, call FHL Texas in Frisco, TX at (214)447-7575 today.
