Mortgage rates have been on the rise in recent months, with the 30 year fixed rate mortgage recently surpassing the 5% mark.
For homebuyers, this presents a challenge in terms of finding the most affordable mortgage option.
However, there are still some options out there such as:
- Relationship Banking Discounts
- Adjustable Rate Mortgages
Adjustable rate mortgages can be a great option for buyers who anticipate refinancing in the future.
This offers a level of flexibility to adjust to changing market conditions, which can help to keep monthly payments low!
Ultimately, buyers may need to weigh their options carefully in order to find the right mortgage. work with an experienced realtor who can help you get the most out of this market!