Interest Rates for Q4 of 2022
Right now, the average 30yr fixed rate in the country has gone up to 6.875% with high credit scores and a large down payment, with many buyers hitting the 7’s. But don’t let that discourage you from buying! If you can tolerate a higher payment for a couple of years then you will be able to refinance once inflation comes down which will drop mortgage rates.
There is also a Temporary Buydown program that can lower your payment for the first two years of the loan to help with cash flow until it’s time to refinance. Give us a call and let’s discuss your options.
If you want to check your options, call us at (469) 451-6330.