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Although mortgage interest rates have recently been rising, it’s important to note that rates are still at historic lows. My good friend Nick Fratini, the branch manager of GMH Mortgage in West Chester, talks about interest rate trends and how they will affect you as a home buyer or a home seller.
Many people who are in the market to purchase a home want to know if waiting a few more months to save additional down payment money is a good strategy. In this video, Nick will answer that question and demonstrate why waiting may not be the best financial decision.
On the converse side, interest rates affect home sellers as well. With rates projected to trend upward over the coming months, a purchaser’s buying power won’t be as strong as it is today. This could potentially take them out of the market as a viable purchaser for your home.
If you’re in the market to either buy or sell a home, it’s a great time to talk to a Realtor. Always remember, #WhoYouWorkWithMatters.