Rates--They are a'rising. They hit just a tiny bit over 4% for 30 year fixed rate loans this past week. Now, that is the first time they've popped over 4% in quite some time. So this brings up the question--are low rates now gone away? The answer seems to be that they'll remain low for the remainder of this year, possibly well into 2013, but perhaps spend a fair amount of that period in the low 4's. Now, while that's a bit more expensive than it was a week ago, it is still close to the lowest historical rates we've seen and been comfortable with recently.
So, you ask, what do I do now? Well, if you're a buyer, the litany is unchanged! Get out there and take advantage of what are still very, very cheap rates and buy! If you are a seller, it's still a great market to take advantage of. Lots of buyers, cash in hand and not enough inventory at all levels. We've been seeing a number of multiple offers in the recent weeks, so that can only be good for you if your home is 'done', properly priced and on the market now. Unsure of its value? Give us a call: Peter: (415) 279-6466; Jane: (415) 531-4091. We'd be happy to help you.