The Mortgage Bankers Association, Fannie Mae and the National Association of Realtors projected 30-year mortgage rate to rise to at least 4% by the end of 2013. However, 30 year fixed conforming rates hit  4.125% June 1st. Comparing rates from just a few weeks ago when they were 3.5%, here is the difference a buyer will pay over time.

 

Mortage rates are rising which means higher payments over time. Now is the time to purchase your new home at the Jersey Shore! Call our team and speak to a real estate and mortgage professional today!

 

Courtesy KCM