Over the past year or so we have begun to experience the economy improving.  As a result mortgage rates are on the rise, posing a challenge to many first-time home buyers as well as relatively any prospective home purchaser.  If you think about it even if you are a current homeowner who needs to see your home, its possible the incoming buyer will a more interest rate sensitive party.

Recent economic news such as higher than expected retail sales and the improved jobs market has raised consumer confidence has led to increased spending and economic growth in our country.  The result…  many supposed experts suggest the Federal Reserve will raise rates as early as the third quarter of this year in 2015 leading to interest rate increases.

A rise in interest rates means one of 2 things.  Either your purchasing power is reduced or you could be pushed out of the market altogether and need to defer your purchase.

However, fear not,  There are many creative financing vehicles even in an environment subject to interest rate increases.  The role of an informed real estate profession is to identify all of the options.  With all of that being said, the time to jump in could be now before rates rise.  Choose your mortgage professional carefully.  There are some incredibly creative well informed mortgage bankers and you need to seek the best.  That in itself is a feat in that in recent years the mortgage banking industry has gone through some transformation.  Get a good referral and them some proper guidance on the right questions to ask.

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