Survey: Higher Rates Don’t Scare Buyers

Daily Real Estate News | Despite mortgage rates being on the rise home buyers say the increases aren’t scaring them away from their real estate search, according to a new Redfin survey.

Though mortgage rates have moved higher, borrowers on the whole are still appreciating how low they are historically and are taking advantage of the opportunities still at hand before rates move any higher. Despite nine consecutive weeks of rises in mortgage rates, the annual average for the 30-year fixed-rate mortgage was 3.65 percent in 2016 – the lowest annual average ever recorded by Freddie Mac.

Twenty-five percent of respondents say the rise in rates does not impact their home buying decisions, and about 24 percent say they feel a greater sense of urgency to buy before rates go up further.

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Low mortgage rates = new home-buying opportunities

Mortgage Interest rates just hit new 10-week lows due to the Fed’s decision to hold-off on raising rates.

With the housing market heading into the winter months, now is a great time to buy a home, vacation home or rental property.

Call today, let’s discuss your individual goals for purchasing or selling a property and find out if you can benefit by these low rates. Larry¬†Cirnigliaro (714) 394-6649 – For all your real estate needs.