How To Deal With Rising Mortgage Rates

Posted by Admirals Cove Homes on Aug 20, 2013 in Home | 0 comments

Over the last few years, Americans have enjoyed low mortgage rates. Lately though rates have been on the rise and causing some concern with potential home buyers. Just because mortgage rates are on the rise doesn’t mean that people still can’t get a great home that they can afford. Here are some ways to deal with the rising mortgage rates.

Don’t panic- Before you run out and by a home before rates continue to rise, remember that they are still much lower than they have been over the last 10 years, thus making them reasonable for home buyers still. Also keep in mind that like most other things, mortgage rates are cyclical meaning that they will come back down again at some point.

Focus on what you can control- No matter what, you can’t control what mortgage rates do or the economy for that matter. This is why it is important to focus on things that you can control like your credit score.

For more information on home listings in Admirals Cove, contact Rob Thomson and the rest of the Admirals Cove team at (561) 743-0344 or acteam@wfpcc.com.