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Why Buy Now? It’s A New Year – And Interest Rates Will Be Going Up!

Financing, Homeownership | By Evans Coghill Homes
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Have you been dreaming of owning a new home? Evans Coghill Homes would love to help you through the process! And what better time than the new year?

Now is a great time to go ahead and make that dream come true. It’s a new year – and the perfect opportunity for a new start. It’s also a good time because interest rates are going up, and that will influence both how much home you can afford, as well as how much you’ll pay over the span of the loan.

Over time, as the Fed raises rates more, mortgage rates are expected to move up too. According to CNN Money, the typical fixed rate on a 30-year mortgage is currently around 4.1%. Before the election, a typical 30-year fixed rate mortgage was 3.5%, according to Freddie Mac.

While rates are rising quickly, they are still low. For example, during the last economic expansion, mortgage rates were between 5% and 7%. In the 1990s, rates were even higher, shifting between 7% and 9%.

Don’t make the mistake of thinking that a one or two percent increase won’t affect your bottom line too much. You can save thousands of dollars a year by buying a new Evans Coghill home BEFORE rates rise, even more so than they have already.

Below you will find a list of our preferred mortgage lenders for 2017:       

Whitney Crowder

BB&T

WCrowder@BBandT.com

Office (704) 264-0252

Cell (704) 517-7662

Ashleigh Clark

Cunningham Mortgage

ashleighc@cunninghammortgage.com

(704) 307-9908

www.cunninghammortgage.com

Lori Couick

Bank of North Carolina

lcouick@bankofnc.com

Office (980) 359-1168

Cell (704) 491-2935

Be a smart buyer! Lock in a lower interest rate by buying your new Evans Coghill home in 2017!

We were named Builder of the Year in 2016. Our homeowners have continued to give us positive reviews and survey results. Read more about what they have to say here.  Evans Coghill Homes builds new homes in RiverwalkSpringfield, Cotswold, Cheval and Southpark.

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