Have you read the headlines? Interest rates are going up and are currently at just over 4%. Many are predicting that rates will continue to go up and may not stop any time soon… But what does this mean to you and should we all be panicking?
Below is chart that shows rates by decade, after reviewing this you may be thinking to yourself, “4 percent looks pretty good!” And you wouldn’t be wrong. Over the last few years we have been used to rates being in 3’s, so a jump to 4 percent has people scrambling. But in the past people would be over-the-moon happy to get a rate of 4%.
If you are thinking about buying, now may be the right time for you! Catch a good rate before they go up any higher to make sure you have more purchasing power!