BUY NOW IN PARK CITY-Interest Rates are on the Rise!
This has not been a good week for interest rates. The conforming 30 year fixed rate has moved from 6.125% at the beginning of the week to 6.50% as of today. The primary reason is fear of inflation. The bond market hates inflation, because it erodes the effective yield earned on fixed income bonds. If inflation begins to increase, or even if the bond market thinks that inflation will increase, investors sell off bonds. When bonds are sold, prices drop and yields rise, which drives up the rates on mortgages. As you know, there have been substantial increases in food and energy over the last few months, which caused inflation to start increasing.
With that in mind, now may be the time for those that have been “waiting” for the right time to buy and that increasing interest rates will more than offset additional price reductions they hope to see in the market.
For information on the Park City Real Estate Market, please contact us a http://unlockparkcity.com
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