Highlands NC Real Estate News: Mortgage Rates Drop Below 3%
This week’s Highlands NC real estate news sees mortgage rates drop below 3%. The drop was unexpected according to an article in REALTOR Magazine, “Mortgage Rates Unexpectedly Dip Below 3%”. The average rate for a 30-year adjustable-rate mortgage is hovering at 2.99% this week, fueling refinancing as well as purchases. Such a low rate offers great savings over the lifetime of a loan, which is great news for anyone considering buying a Highlands NC home for sale.
Time to refinance?
Low rates always have homeowners wondering about refinancing. Just like buying and selling, timing is key for saving money. While timing a low point is a matter of luck, rates are expected to rise next year. Refinancing can certainly save money when it comes to monthly payments but it will also add time to a loan. As a result, many people refinance from a 30-year loan to a 15-year loan. There is no doubt that today’s rates are low, inciting many homeowners to refinance Highlands NC homes.
Find the right lender
Take the time to find the right lender for your Highlands NC property. An experienced REALTOR is a great place to start, offering referrals to local lenders that are familiar with our unique market. Research pays off when it comes to refinancing or securing financing to purchase a home. There is no doubt that taking advantage of these exceptionally low rates holds great appeal!
Learn more about Highlands NC real estate
Contact our team at Berkshire Hathaway HomeServices Meadows Mountain Realty today to learn more about Highlands NC homes. We welcome the opportunity to update you on the market while recommending reputable local lenders at the same time. Let our knowledge and experience serve as your guide to Highlands NC real estate.