BEND – As of June 11th 2015 the average interest rate for a 30-year fixed mortgage loan is now 4.17 percent and the current interest rate is now at the highest it’s been since it was at 4.02 percent back then.
Rates Heading To 5 Percent?
If you’re thinking about buying a Bend Oregon Home now is a great time for you to get pre-approved for a mortgage loan since most analysts predict that mortgage interest rates will increase to at least 5 percent by the end of the year.
Mortgage Applications Increase
Thanks to the increase in mortgage interest rates more people decided to file mortgage applications this week and the result was an increase in mortgage application filings of close to 10 percent and this shows us that the Real Estate market continues to remain strong in spite of brief dips in activity around holidays like Memorial Day.
Rates Still At Historic Lows
The recent surge in mortgage application filings is a reminder that interest rates are still historic lows considering the fact that the 30-year fixed mortgage interest rates back in June 2007 was 6.6 percent so you’re still enjoying significant savings if you buy a Bend Oregon Home Now.
Some Economists Not Excited
Although it’s good to get positive Real Estate and economic news, some economists including analysts from Goldman Sachs said recently that the excitement over low mortgage interest rates and the surge in applications is misplaced considering that in spite of recent rate increases we are the market is still at levels comparable to where the market was back in 1996.
Buy a Bend Oregon Home
To get started with buying a Bend Oregon Home, or to view Bend Oregon Real Estate, contact me today by calling (541) 383-1426 or CLICK HERE.