Less is more 

If you're new to investing or real estate and don't know the first 
thing about interest rates, here's a good tip: the higher the interest 
rate, the more expensive it's going to be. High interest rates mean 
you will have to pay back more on the money you borrow. Another good 
rule of thumb is that affordability increases if you use an 
adjustable rate mortgage (it's easier to qualify this way). Of 
course, there will be a wide range of prices that you can choose 
from, depending on what kind of financing you choose.. 

Not even the Fed knows for sure 

The Fed holds a considerable amount of power, but they can't control 
everything. Mortgage interest rates are affected by many unpredictable 
political, economic and social events. So there is no guarantee what 
direction interest rates will go, despite the forecasts of the 
experts. Therefore, make your financial decision based on where 
things are today including your budget, your needs and your future 

Locking in rates assures your lowest interest 

If you do decide you want to lock in at a certain interest rate, you 
will need to complete a loan application and send it to your lender as 
soon as possible. This must be done so that your commitment doesn't 
runout before your loan is approved. Follow up and be se sure that 
the lender is receiving all of the necessary documentation. Get a 
property appraisal, which usually costs about $300, through your loan 
agent as soon as possible. 

Don't obsess and miss a good real estate dea

Although rising interest rates can create more problems for home 
buyers, waiting and hoping for low rates is not necessarily a smart 
move. You may end up paying a higher price. Also, refinancing is 
always an option in the event that interest rates come down. 

Visit again soon! I have more information that you will need!

Donna States
Donna States
Broker Associate
No Address Provided Torrance CA 90505