The average mortgage rate dropped to an all time low of 3.3% in 2012, and is now rising rapidly. In June, mortgage rates in the US averaged 4.35%, but for those interested in buying, even though mortgages are at the highest rate in two years, they are still a great deal. Economists estimate that these rates will keep rising along with the improvement in the economy, so if you’re looking to purchase or refinance, now’s is a great time to do so, before the window on low mortgage rates closes for good. Prices are rising in the housing market too, making this a great time for sellers for the first time in awhile.
Whether you’re buying or selling a home, we can help! Give us a call at Cooper Realty Associates and put us to work for you – 302-629-6693.