What is Going on with Mortgage Rates?

1In the last week we saw one of the single largest rate jumps since 2013.  In just one day, the cost of getting a loan went up by roughly 1% of the entire sum of the loan.  (If you were to get a $100,000 loan the day before, it would have cost you $1,000 less.)  The economy is getting stronger, and a true rate increase from the Fed is basically a guarantee in the first half of 2016.

What does this mean if you are thinking about selling your house?  Get it on the market now, and work with someone who knows what they are doing.  I have had several of my buyers become frustrated because the houses they want to look at go under contract before they get the chance to.  In the last month, the majority of my listings have sold in less than a week.

If you want to get the most money for your house, in the least amount of time (or you know someone else that does), get a hold of me at 515.639.0047 or RyanLynch@KW.com.

~Ryan Lynch