The weekly Survey by Freddie Mac this week reported the 3o year fixed rate at 4.84% ; the lowest this year thanks to worries over European debt. Holden Lewis (bankrate.com) reports in the Real Estate Section of this Sundays’ Seattle Time that rates are likely to increase this summer. Those experts quoted agree that interest rates will go up this year. A 1% interest rate increase on a $300,000 mortgage raises the payment $250 a month. Multipy that time 30 years! That’s why we say again that THIS IS A GREAT TIME TO BE BUYING A HOME!
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