LIME REALTY GROUP feels it’s time to touch base with the current mortgage rate.  Right now, the rate is still where we figure it will be.  A 30 year fixed rate FHA mortgage is 4.12%.

There are positives and negatives to this rate.  The bad news is the rate holds steadily over 4%.  It doesn’t look like it’s going to fall back below 4% into the 3% region.  It’s retraced some, but not enough to push it back to recent lows.

We believe the rate will continue upward through the end of the year.  Some analysts are predicting the rate will reach 5% by 2017.

On a positive note, with the rate holding just above 4% it’s still a historically low rate and will allow many people to break into the housing market.  If you’re one of these people, your window of opportunity is now and shrinking.

The best move is to contact Lime today and let us help you get your pre-approval underway!  It’s time to start shopping for your new home.