Mortgage Interest Rates Heading Up

After months of declining rates, mortgage interest rates began to rise last week and seem to be staying up (view story on ABCNews). CNNMoney reports today’s interest rate for a 30-year fixed mortage at 4.53%, which is higher than our record low of 4.0%, but is still a fantastic rate. We may have seen the bottom, so those of you that have been holding out should get in the market now. Luckily, Mr. Snodgrass and I refinanced our home loan at 4% last month, so I am a happy camper. I can’t image it ever getting better than that.

If you are contemplating buying or refinancing, let me know if you need a lending recommendation or if you just want to talk about mortgages and when to buy. I am happy to help.