While mortgage rates fluctuate daily and the interest rate you’ll pay on a home loan depends on multiple factors, most mortgage experts anticipate an increase in average mortgage rates by the end of the year. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that any rate increase has an impact on your monthly mortgage payments. It’s important to recognize that mortgage rates above 5% are still historically low. Before the Federal Reserve began its programs to keep mortgage rates as low as possible in response to the housing and financial crisis, mortgage rates had rarely dropped to 6% or lower. Check out below for what sold in Northville Commons in June 2015:
42062 Banbury Lane, Northville: 3 bedrooms, 2 bathrooms, 2,619 sq. ft., 2 car garage, Sold Price: $336,000
The best way to learn about your options for purchasing a home is to consult a lender who can discuss loan programs that meet your individual circumstances. For more information on Northville Commons, or similar Northville or Novi neighborhoods such as Royal Crown, Maple Hill and Turtle Creek, contact The DiMora Team today at 248-505-7728 or email@example.com.