Waiting to Buy a Home?
By Chris and Maria Jeantet, Redding CA Real Estate Couple
(Coldwell Banker C&C Properties)
You may miss out on low interest ratesIn December, the Federal Reserve raised the key interest rate by a quarter-point to a range of 0.25% to 0.5%, the first rate increase in nearly a decade. While some experts expect the Fed to raise rates gradually this year, some economists expect rates to increase three or four more times this year. Increases are anticipated to amount to a quarter-point each time, and when they do occur are sure to impact mortgage rates. What's a homebuyer to do?NOW IS THE TIME TO BUY!While a quarter-point increase in interest rates doesn't seem like much, it could mean the difference of hundreds of dollars a month in your mortgage payment, depending on the price of your home, your interest rate, how much you're borrowing and the size of your down payment. This is m...