Real Estate Right Now:
Understanding Mortgage Rates
In this episode of Real Estate Right Now, the conversation focuses on understanding Mortgage Rates and the questions buyers and homeowners should consider when evaluating financing and closing decisions.
Recorded in February 2023, the episode provides context for the market and practices discussed at that time. For current local information, explore Linda Craft Team’s Triangle real estate market statistics and related resources throughout this page.
This Episode's Highlights
Financing details can change the cash, payment, timing, and risk involved in a real estate transaction.
Understanding the process early gives consumers more time to compare options and resolve questions.
A lender and real estate professional can connect general information to your specific finances and goals.
What This Episode Covers
Anyone buying a home is affected by an interest rate, everyone buying a home in our current rate market asks the same question “are rates coming down?” We just left an 80 year low rate market for several years and as we become accustomed to the market the mortgage rates are perceived as a big change...but are they really? In this episode of Real Estate Right Now, Paul Fitts Senior Loan Officer with Advantage Lending takes us through the history of interest rates and how we can a more full understanding of how interest rates have changed over the years and explain that even though the rate is higher WHY you should still buy now in a higher rate market and HOW you can save money in this market
The discussion gives consumers a framework for asking better questions about understanding Mortgage Rates. Because real estate decisions depend on the property, finances, location, and timing, the ideas in the episode should be considered alongside current local information.
Connect the Topic to Your Financing Plan
General information about understanding Mortgage Rates cannot replace a review of your income, credit, debt, cash, and goals. The team’s mortgage resources can help you prepare for a more useful conversation with a lender.
Understanding your home buying power before touring homes can make it easier to compare payments, closing costs, and financing choices.
Get Guidance for Your Next Step
Linda Craft Team, REALTORS can help you connect the episode’s ideas to your property, finances, and plans in the Triangle.
Real Estate Right Now
From buying and selling to market trends, investing, mortgages, and homeownership, Real Estate Right Now brings practical conversations to the questions that matter.