Interest Rates

  There are several costs to purchasing a home.  Some of these costs include: the purchase price of the home, updates that will go into the home to make it your own, and of course interest you will be paying on the loan.  Now that we are recovering from the recession, we have seen home prices gradually climb over the last several years and we have seen interest rates climb also, but not at a drastic rate.  Many are predicting that 2018 may be the year where interest rates start catching up.  We have already seen this as the rates have gone up gradually each of the last 4 weeks. 

  With mortgage rates staying around 4.5% or below, they are still at all-time great rates, but the days of getting your rate under 4% may be gone for a while. There are several companies that are still offering rates under 4%, be diligent as a buyer to assure you know the terms of these low rates.  Most likely these lenders are charging points to buy down rates which you will show in increased closing costs that must be paid at closing.  This may be an option that you are interested but it is important to be aware of the details up front so there are no surprises as you near closing.

  The best way to shop around for the best interest rates is to have a professional team looking after your needs through the process and breaking down every expense.  Our team at Susan Annis & Associates not only has a full team of experienced agents for your listing and buying needs but a closing coordinator who specializes in ensuring everything gets to closing smoothly and with no surprises.  We work closely with some great lenders that we are happy to recommend to our clients. They are lenders we have used that we trust to have competitive rates and be honest and forthcoming with our clients. Buying a home may be the biggest purchase you make in your life and having someone guide you through the process with the utmost professionalism and years of experience is crucial. Remember Susan Annis and Associates when you are ready to purchase. Also if you need advice or to check rates on refinancing, give us a call and we will help guide you to the right lenders to call.