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Mortgage Rates Are On The Move! Should You Buy Or Wait?

Learn about the latest mortgage trends, developments, and market conditions.

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Native purchase article
BestMoney Staff
Bestmoney Staff
Aug. 26, 20211 min read
Mortgage rates are on the move. The American economy is nearing a full recovery, and mortgage rates are not getting left behind. In fact, our research suggests that mortgage rates are expected to steadily rise over the coming months, continuing the upward trend that began in December. Here’s why you should lock in your rate as soon as possible.

The average 30-year fixed mortgage rate rose by over 13% from 2.67% to 3.02% in just 7 months. During that time period, the average 15-year fixed-rate also rose by just over 11% from 2.17% to 2.42%.

Unless something drastic happens, it’s an almost certain bet that this upward trend will continue, and mortgage rates will continue to steadily rise over the coming months.

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We know it's hard to figure out whether this is the right time for you to buy a new home, or if you should wait, but waiting might also cost you some serious money.     

Locking in your mortgage rate today is a surefire way to protect yourself against rising rates in the future.

As more and more market trends are indicating that mortgage rates are steadily rising, our advice is not to wait and to start comparing lenders and rates today. 

So what exactly are you waiting for? Start comparing now!

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BestMoney Staff
Written byBestmoney Staff

Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.

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