With interest rates going up, make sure you update that approval letter

May 3, 2022

Interest rates continue to climb. The rate on a 30 year fixed as of July 8th was 6.4%. In comparison, rates were in the mid fours four months ago. So what does that mean if you are pre-approved? It means you need to contact your loan officer and adjust that pre-approval letter. With interest rates soaring, it will impact your buying power. What you could afford in March April or…


Will interest rates go up in 2021? That depends on who you ask

December 24, 2020

Image courtesy of Getty Images. Will interest rates go up in 2021? That’s the $64,000 dollar question. It depends on who ask. Typically rates do experience an uptick after a presidential election but I wouldn’t expect a dramatic rise in the new year. According to Fannie Mae, rates for the 30-year fixed loan will remain at 2.8% through 2021 and only rise to 2.9% for 2022. That is great news…