The recently passed Tax Law resulted in anxiety in the housing industry because of the reduction of benefits enjoyed by homeowners. The biggest issue for most people interested in buying homes is the fact that interest rates are rising. A top Scottsdale mortgage broker has warned that financing a mortgage could be an expensive affair in the near future.
Speaking from his office, Mark Ventrone, a top Scottsdale mortgage broker and CEO of ABLEnding, Inc, has explained that more people are now concerned about interest rates than they were in the past two years. This is because the rising rates affect the total amount of money they pay to a Mortgage lender.
“We live in an era of new tax laws and this means we should be aware of the effects of the laws. According to the market graphs in relation to the changes in tax laws and the demand for houses, we can expect the rates to rise. The expectations of rising rates have already affected the mortgage rates in 2018. If you look at information on Bankrate.com, on average, the 30-year fixed rate has already moved up to over 4.3%. This is a major increase considering that on New Year’s Day, the rate for the same period was 3.85%.” – Mark Ventrone, a top mortgage broker in Scottsdale.
Though a two-year high, the rates remain under the 6% mark that was the lowest before the housing crisis. There are people who are not paying attention to the rising rates. These are individuals who bought their homes in the 80s and 90s. During this period, interest rates were over 20% and remained in the double digits.
There are many people who have not yet seen interest rates that are over 5% and this might be an influencer when it comes to purchasing a home. The best thing, in such a confusing period, is to work with the best Scottsdale Mortgage Broker Services.
About ABLEnding, Inc
Our goal is to simplify the mortgage process by sharing our knowledge and expertise. We are able to educate clients through the entire home financing transaction with clear communication and transparency. Our 40+ years of combined industry experience allows us to remove the stress from initial consultation to loan funding. ABLEnding, Inc’s top notch customer service and response times are the best in the business. If you want personalized service, ABLEnding, Inc is the “home” for you.
Company Name: ABLEnding, Inc.
Contact Person: Mark Ventrone
Email: Send Email
Phone: (602) 362-6634
Address:11571 E Ranch Gate Rd
Country: United States