Ask Terry Questions Mortgage Interest Rates

Mortgage Interest Rates

By Terry Savage on September 26, 2023 | Housing / Real Estate

Our current mortgage has a 5.125% interest rate. We’re looking to sell…but rates are 7%+.

What should be the maximum rate we sell? 6%? 6.5%? When do you predict rates will drop to this level?

Terry Says

Currently fixed rate mortgages are at about 7.3%. That’s why many people aren’t selling their homes. They don’t want to buy a new one at a higher mortgage rate!

I personally think mortgage rates could stay at this level for another year. But I don’t have a crystal ball!



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