Rising Rates on Miami Homes, Could Hurt the Market

by Isaac Benmergui, Esq on July 4, 2013

Red$graph_cropMortgage-interest rates are rising and have some market analysts concerned about whether the housing recovery will slow down with loans becoming increasingly expensive.

The average rate nationwide for a 30-year mortgage is now 4.46 percent, up from 3.93 percent in one week, which makes it the priciest one-week increase since 1987. That rate hasn’t been seen since July 2011, according to the Federal Home Loan Mortgage Corp.

When the Federal Reserve announced on June 19 that it could be ending its economic-stimulation program by the end of this year or in 2014, rates started climbing.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.



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