Now might be the best time to lock in a low mortgage rate
Low interest rates have been gracing the Vail real estate market with their presence for the past year but the word on the street is that they won’t be here much longer. While mortgage rates aren’t going to skyrocket out of sight, it is doubtful that they will decrease and certain that they will steadily begin to rise.
For those wishing to lock in at below 5%, the time just might be now or never (or at least for a very long time). The first week in January, the average 30 year fixed mortgage rate was 5.09%. The general sentiment among economists is that rates are not going anywhere but up from here.
The strengthening of the economy equals less chance for discounted rates. If you want to refinance or purchase real estate in the Vail Valley, now might be the best time to do so. The low rates make it a great time to purchase Vail real estate.
For more information on mortgage rates click here to look at a recent article from CNNMoney.com.
