Available 7 Days/Week       MON - FRI  8am - 7pm       SAT - SUN  10am – 6pm
Call us (888) 259-2257
Apply Now

How To Approach Rising Mortgage Rates as a Buyer

How To Approach Rising Mortgage Rates as a Buyer | Simplifying The Market

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead.

If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise.

How Rising Mortgage Rates Impact You

Mortgage rates play a significant role in your home search. As rates go up, they impact how much you’ll pay in your monthly mortgage payment, which directly affects how much you can comfortably afford. Here’s an example of how even a quarter-point increase can have a big impact on your monthly payment (see chart below):

How To Approach Rising Mortgage Rates as a Buyer | Simplifying The Market

With mortgage rates on the rise, you’ve likely seen your purchasing power impacted already. Instead of delaying your plans, today’s rates should motivate you to purchase now before rates increase more. Use that motivation to energize your search and plan your next steps accordingly.

The best way to prepare is to work with a trusted real estate advisor now. An agent can connect you with a trusted lender, help you adjust your search based on your budget, and make sure you’re ready to act quickly when it’s time to make an offer.

Bottom Line

Serious buyers should approach rising rates as a motivating factor to buy sooner, not a reason to wait. Waiting will cost you more in the long run. Let’s connect today so you can better understand your budget and be prepared to buy your home even before rates climb higher.

Content previously posted on Keeping Current Matters

#fidelityhomegroup, #floridamortgage, #floridamortgagerates, #mortgageflorida

    .


Copyright © 2022 Fidelity Home Group supports Equal Housing Opportunity | All Right Reserved  | NMLS Identifier 1834853. Fidelity Home Group is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Fidelity Home Group is a Mortgage Corporation serving the state of Florida. Not intended for legal or financial advice, consult your own professionals if such advice is sought. This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties in the state of New York will be accepted through this site. Accessibility Statement  | Consent to Receive Electronic Loan Documents  |  Cookies Policy   |  Disclosures  | Email and Mobile PolicyFair Lending Policy  |  File a Complaint Mortgage Assumptions  |  NMLS Consumer Access  |  Privacy Policy  |  Terms of Use 

florida mortgage, florida mortgage rates, florida mortgage claculator, florida mortgage broker, florida mortgage lender, florida mortgage compamny, mortgage broker near me, mortgage brokers near me, orlando mortgage, orlando mortgage rates, the villages mortgage, the villages mortgage rates, the villages mortgage lender, the villages mortgage broker, naples mortgage, naples mortgage rates, naples mortgage lender, naples mortgage broker, florida keys mortgage, florida keys mortgage rates, florida keys mortrgage lender, florida keys mortgage broker, cape coral mortgage, cape coral mortgage rates, fort myers mortgage, cape coral mortgage lender, cape coral mortgage broker, fort myers mortgage rates, fort mayer mortgage, fort myers mortgage lender, fort myers mortgage broker, sanible island mortgage, sanibel island mortgage rates, sanibel mortgage lender, sanibel mortgage broker, anna maria island mortgage, anna maria island mortgage rates, anna marie mortgage lender, anna maria mortgage broker, clearwater mortgage, clearwater mortgage rates, clearwater mortgage lender, clearwater mortgage broker, bonita springs mortgage, bonita springs mortgage rates, bonita springs mortgage lender, bonita springs mortgage broker, marco island mortgage, marco island mortgage rates, marco island mortgage lender, marco island mortgage broker, st. augustine mortgage, st augustine mortgage rates, st. augustine mortgage lender, st. augustine mortgage broker, st. augustine beach mortgage, st. augustine beach mortgage rates, st. augustine beach mortgage lender, st. augustine beach mortgage broker, tampa Bay mortgage, tampa bay mortgage rates, tampe bay mortgage lender, tampa bay mortgage broker, st. petersburg mortgage, st. petersburg mortgage rates, st. petersburg mortgage lendser, st. petersburg mortgage broker, bradenton mortgage, bradenton mortgage rates, bradenton mortgage lender, bradenton mortgage broker, bradenton beach mortgage, bradenton beach mortgage rates, bradenton beach mortgage lender, brandenton beach mortgage broker, sarasota mortgage, sarasota mortgage rates, sarasota mortgage lender, sarasota mortgage broker, longboat key mortgage, longboat key mortgage rates, long boat key mortgage lender, long boat key mortgage broekr, key west mortgage, key west mortgage rates, key west mortgage broker, key west mortgage lender, key largo mortgage, key largo mortgage rates, key largo mortgage lender, key largo mortgage broker, isalamorada mortgage, islamorada mortgage rates, islamorada mortgage lender, islamorada mortgage broker, big pine key mortgage, big pine key mortgage rates, big pine key mortgage lender, big pine key mortgage broker, marathon fl mortgage, marathon fl mortgage rates, marathon fl mortgage lender, marathon fl mortgage broker, upper keys mortgage, upper keys mortgage rates, upper key mortgage lender, upper keys mortgage broker, lower keys mortgage, lower keys mortgage rates, lower key mortgage lender, lower keys mortgage broker, apalachicola mortgage, apalachicola mortgage rates, apalachicola mortgage lender, apalachicola mortgage broker, st. geoerge island mortgage, st. geoerge mortgage rates, panama city mortgage, st. geoerge island mortgage lender, st. geoerge island mortgage broker, panama city mortgage rates, panama city mortgage, panama city mortgage lender, panama city mortgage broker, panama city beach mortgage, panama city beach mortgage rates, panama city beach mortgage lender, panama city beach mortgage broker,

Fidelity Home Group
4700 Millenia Blvd Suite 175, Orlando, FL 32839

Hours of Operation:

Monday - Friday 8am to 7pm EST
Saturday - Sunday 10am to 6 pm EST