Mortgage Interest Rates
Hello!
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!
