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How to get off the mortgage rate roller coaster

While the idea of mortgage rates going up might be frightening, the good news is that you can start preparing yourself for this right now. Beyond the typical advice of “start budgeting and save money” I’d like to offer a simple bit of overdue advice. Don’t wait. If you are looking into purchasing a home… don’t wait. If you plan on refinancing, right now is the time to do it. Beyond just the roller coaster of rates that are going to severely hinder every home buyer/owner in America, many economists forecast that home values in northern Virginia will appreciate by 4.2%. Now, I touched on this in a previous blog post but I cannot say it enough that right now is the time to take action. Home rates go up, you lose buying power. Home prices go up, you lose buying power. Put it together and you exponentially lose buying power.…

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