Skip To Content

Interest Rates Remain At Historic Lows… But For How Long?

Interest rates on home loans in Myrtle Beach

The interest rate you pay on your condo in Myrtle Beach, of course, affects your monthly payment. That’s why we need to take a look at where the experts believe rates are headed when deciding to buy now or wait.

Since the beginning of the year, the 30-year fixed mortgage rate has fallen half a percentage point and has stayed at or below 3.5% for the last 11 weeks, according to Freddie Mac’s Primary Mortgage Market Survey.

The following reports show how far rates have fallen. Here are some links to where you can see the projections from  Freddie MacFannie Mae and National Association of Realtors. It clearly shows that rates are projected to increase over the next 12 months.  So now is the time to start the buying process if you’re looking to buy a condo in Myrtle Beach.

How will this affect your payment? It definitely depends on how big your loan is.  Even a .5% increase in the rate can affect the payment significantly. According to CoreLogic’s latest Home Price Index, national home prices have appreciated 6.0% over the last year and are predicted to be 5.4% higher next year.

If both predictions are correct, then you could end up paying more for a Myrtle Beach condo if you wait.

The Jerry Pinkas Real Estate Experts are here to help you start the process of applying for a mortgage now and finding the perfect condo in Myrtle Beach.  Contact us today!

Trackback from your site.

Jerry Pinkas

About Jerry Pinkas - Born in Baltimore, Maryland, Jerry started investing in real estate, buying his first rental property at the age of 21. With the love of the beach & ocean, he continued his real estate investments in Myrtle Beach and finally decided to move to Myrtle Beach full-time. If you ask Jerry's friends to describe him, they will say he is driven and hard-working. He just loves what he does and throws all of his energy into helping his clients. It's what makes working with Jerry so enjoyable. When not helping other people achieve their dreams, you can find Jerry spending time with his wife & daughters, enjoying all that The Grand Strand has to offer. The Jerry Pinkas Real Estate Experts utilize aggressive marketing techniques to help sell Myrtle Beach real estate. Home sellers need an expert who has an array of knowledge, a tireless work ethic, and supreme dedication to the task. The Jerry Pinkas Real Estate Experts have set the standard when it comes to selling property in Myrtle Beach. We are not just out to sell homes. We want to provide our clients with top customer service. I am grateful to be known as a successful Realtor, investor, business owner, and advisor.

Leave a Reply


Contact Us Now