The leaves are changing and falling, and so are mortgage rates.
Long term mortgage rates have fallen sharply in the last several weeks.
- Rates on 30 year fixed rate mortages are hovering below 4%.
- The 15 year rate is hovering around an astonishing 3%.
According to the Colorado Springs Gazette, home prices , sales, and home building have increased again. (October 2nd & 6th business section) The market is still hot due to the low mortgage rates.
What does this all mean? If you are looking to buy a house in Colorado Springs. Or if you are looking to sell your house in Colorado Springs, now is the time… I do believe the Fed is about to raise rates, and the days of historic low interest rates may be gone forever!
I know I keep beating the same old drum but now is the time. Buy or Sell your house in Colorado Springs before Fall is over and Winter sets in. Along with it, could come a chill in the housing market!