Mortgage Rates Today at 4%: Invest in Wake County Real Estate

The Marks Team are Triangle Real Estate Specialists highlighting our local community and offering expert tips and advice. They have been selling homes in Wake County since 2002 and are top-producing agents at Keller Williams – Cary. 919.228.8019

Take Advantage of Mortgage rates today and Find Your Dream Home in Wake County, NC

If you’ve been in the market to buy a home, then you know APR rates fluctuate all the time. Choosing to invest when rates are low could save you tens of thousands of dollars over the course of the loan.

mortgage rates today 2If you’re interested in buying a home in Wake County, there’s no better time than now to ask around. Despite expert predictions that 30-year fixed rates would continue to rise this year, they are actually doing the opposite- sitting at an annual low of 4.03% currently! Buying a home is a big decision, but with rates like these you can focus more on getting exactly what you want rather than being caught up in the costs.

Low Mortgage Rates Today 

Interest rates have fallen to the lowest point since June of 2013 recently, so now is the time to invest. Experts have been predicting a steady rise in fixed-rate APR mortgage rates, which has proven true over the last few years. In January 2014 rates sat at an uneasy 4.63% and even in mid-September, rates reached as high as 4.29%, so take advantage of the dip in rates while you can! This is a great opportunity to purchase the home of your dreams at an affordable price. North Carolina is waiting for you, but the longer you wait the more you could end up paying. 

What is an APR Mortgage Rate? 

mortgage rates today 3This term gets thrown around a lot in advertisements and informational paperwork for mortgages, but what does it actually represent? APR stands for Annual Percentage Rate, and it accounts for the interest and other fee costs you’ll pay for each year that your mortgage is active.

These rates make quite a significant difference over the long run, so although a difference of .10% may not look like a big deal it could end up meaning a huge savings or loss for you. The best part about these APR mortgage rates is that they are generally fixed for long-term loans, whereas short-term loans have the risk of fluctuating rates that might cause higher costs than you anticipated in the end. 

The 30-year fixed rate APR is hard to predict, but it has been known to make extreme jumps in the past, meaning that you shouldn’t assume the current low rate will last forever. For example, the rates on these mortgages went from 3.54% in May of 2013 all the way to 4.07% in June of 2013. That’s a whole .53% in the space of one month!

The rate on a 30-year mortgage is fixed, so whatever the rate is when you take out the mortgage you will be stuck with it until you have paid back the money you borrowed. Make sure you get the best rate while it’s available, because it could save more money than you think.

mortgage rates today 1The bottom line is this: Homes will always be for sale, but if you’re smart about the interest rates you could end up in the same place for a lot less money. Mortgage rates today are 4.03%, the lowest they have been in over a year, so invest in your ideal home in Wake County today for a more affordable price than you might find later on down the road!

Invest in Wake County Real Estate!

Wake County real estate is some of the most desirable in North Carolina. You could live anywhere from the bustling capital city of Raleigh to the beautiful, satellite suburbs around Raleigh. Friendly people, easy access to farm fresh foods, diverse events for the whole family to enjoy, and exquisite shopping are just some of the many offerings the area boasts.

Market supply will decrease as more home buyers take advantage of low rates, so act fast if you want to secure the home of your dreams in the Triangle! Mega-Agent and Team Leader Beth Marks from The Marks Team has an extensive knowledge of Wake County real estate and her team is on standby to assist with all of your real estate needs. Call 919.228.8019 or email her today!

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