How Much Waiting to Buy Can Cost You
By now you know the Fed has raised interest rates three times already this year. The forecast is that we will have a few more bumps upward in 2018 and early 2019.
Our friends at Trident Mortgage shared this fancy chart with us to show just how much you could save over the life of your loan by locking in at a lower rate now.
Here is the scoop on rates this week:
Conventional Loan with a 30 Year Fixed – 4.625% (4.71 APR) – 60 day lock – 0 Points
FHA/VA Loan – 4.5% (4.91 APR) – 60 day lock – 0 Points
Jumbo Loan ($453,100+) – 4.375% (4.43 APR) – 60 day lock – 0 Points
Conventional ARMS
7/1 – 4.0% (4.09 APR)
5/1 – 3.75% (3.82 APR)
Jumbo ($424,100+) ARMS
7/1 – 4.0% (4.08 APR)
5/1 – 3.875% (3.93 APR)
If you are sittin’ on the fence, now is a good time to hop off, lock in that rate, and make an offer on that Philly condo you have been considering…
Mark Wade
BHHS Fox & Roach Realtors
530 Walnut St. | Phila., PA 19106
www.CenterCityCondos.com
