Mortgage Rates On The Rise

Dated: May 9 2018

Views: 268

If you are ready, willing and able to purchase a home in Hilton Head and Bluffton; Now is the time!!!

  1. These are your grandfather’s mortgage rates! (love this) It is important to put today’s rates in context. In 1956, long-term fixed mortgage rates were approximately 5%. In 1971, 30-year rates were 7.48%. Today’s average 30 year fixed rate is just less than 5%.

  2. Can home prices continue to rise in the face of rising rates? The reduction of available inventory in many markets across the US coupled with the increasing demand from first-time homebuyers positions the market for further price gains.

  3. The US has set a mid-May deadline to complete NAFTA negotiations with Mexico and Canada. On 5/22, $50 billion in tariffs can be imposed on Chinese imports, and on June 1, steel and aluminum tariffs will be levied on the EU if they are not again delayed. Add the May 12th Iran nuclear decisions and imminent denuclearization talks with North Korea. That is quite a bit of uncertainty, therefore, expect more volatility in the markets in the future.

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Sebastian James

Sebastian Is a 5th generation native Hilton Head Islander. His great-grandmother Adrianna Holmes-Ford was a midwife and a healer before the island had a bridge in the 1930s. Sebastian and his parents....

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