With mortgage rages climbing for the fifth straight week, it might be time to lock in your interest rate now and go find that home you have been wanting in Palm Beach Gardens, West Palm Beach, Juno Beach, Jupiter, North Palm Beach or anywhere throughout Palm Beach County.
While rates are still under 7 percent, they are now at the highest level in almost a year. And most economists are not predicting a rate decline until at least the fourth quarter of the year.
The national average for 30-year fixed rate mortgages ended the week at 6.74 percent, up from 6.53 percent just a week ago.
The national average for 15-year fixed rate morgages was at 6.43 percent, up from 6.22 percent a week ago.
On adjustable rate mortgages the national average for the one year instrument was 5.75 percent, up from 5.65 percent a week ago and the five year adjustable rate mortgage averaged 6.37 percent, up from 6.24 percent a week ago.
In Palm Beach County, a 30 year fixed rate mortgage ranges from 6.50 percent to 7 percent. The 15-year mortgage ranges from 6.13 percent to 6.33 percent. And the one year adjustable rate mortgage ranges from 5.25 percent to 7 percent.
If you are interested in buying or selling a home in Palm Beach Gardens, please contact The Weiss-Clawson Team, an award-winning duo of Realtors focusing on client satisfaction. We are knowledgeable about communities throughout Palm Beach County and about the local real estate market. We will show buyers all listings that meet their criteria. Check out our website, www.palmbeachcountyhomes.com where you can search for homes through our multiple listing service, then give us a call, 561-762-3704, and we will make appointments for you to see the homes that appeal to you.