Contributed by Tina Wiggins
The recent National Association of Realtors forecast for 2017 predicted that interest rates will continue to rise, but slowly. The forecast called for the 30-year fixed to be around 4.6% at the end of this year, compared to today’s 4.125%. How much difference does that make? On a $400,000 mortgage, that’s around $118 a month more. Over 30 years, that adds up to a difference of $42,400.
Consumers naturally have concerns about rising interest rates and want to be sure to take advantage of these historic lows, so we have partnered with our preferred lenders including Bank South to offer buyers the opportunity to lock in their interest rates for up to six months or more. To learn more about this limited time offer that will help you get the most value over the long-term, contact our new home specialist Vanessa Hunter or our Bank South Loan Officer Kathy Terry.