Mortgage Rates Skyrocket to 7% 😬 Don’t Buy a Home Right Now #realestateshorts

Mortgage Rates Skyrocket back to 7%. Don't buy a home right now. HUGE News on Mortgage Rates will change EVERYTHING. I hate to be the bearer of bad news, but in a matter of days, mortgage rates have skyrocketed to the highest levels since November. According to Bankrate, the average interest rate on a 30-yr fixed mortgage is 6.98%, increasing significantly over the last 7 days. The average 15 yr fixed mortgage rate is 6.28%. This recent spike is scary, but we are in an unstable market & we expect volatility. Inflation has been falling since November & mortgage rates will continue to drop. Data from the most reliable sources show rates at or below 5% in 2023.
Bankrates chief financial analyst Greg McBride said, “I think we could be surprised at how much mortgage rates pull back this year.”
If you’re looking to buy a home, just hang in there. This is a speed bump & rates will drop again in the very near future. Get approved with a lender today so you’re ready to pounce when rates dip again.

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In nearly 20 years as a Realtor in Utah, I've helped 100's of people from all over the World. If you're looking to BUY, SELL, BUILD a HOUSE or INVEST in UTAH Real Estate, Call or Text Me @ 801-995-2337. I'd be HONORED to HELP YOU. I’m Ty the Real Estate Guy, Serving the Salt Lake City area, Utah County for YOUR Real Estate needs.

Utah Realtor: Ty Wilde "Ty the Real Estate Guy"
801-995-2337
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