Rising Rates and the Seattle Spring RushÂ
Every year around mid-March the Seattle real estate market starts to pick up speed. More listings come on the market and buyers wake from the Seattle winter. As buyers emerge from their slumber we get many groggy eyed questions about the state of the market, housing affordability and FINANCING.
It’s true, rates are on the rise… but what does that look like from a historic perspective? Lets take a look:
As of March 16, 2018 rates were right around the 4.5% mark for a 30-year fixed. While there has been a bit of an uproar about rates rising, we are still at historically low levels (as easily seen by the graph). That being said, with rates on the rise, there probably isn’t going to be a better time to buy in the near future. For additional information you can contact us, in the meantime check out these helpful links:
Read: Long-term US Mortgage Rates Fall for First Time This Year
Watch: This Month in Real Estate March 2018
Read: Fixed Mortgage Rates Reverse Course for the First Time This Year