Where Are Mortgage Rates In the Hilton Head Island Area Headed?
Posted by Rick Turner on
We have seen mortgage interest rates reach historically low levels and with 2013 quickly approaching, it leaves us wondering where rates in the Hilton Head Island area are headed. No one knows better where rates could be headed than the Mortgage Bankers Association (MBA) who deals with this on a daily basis. The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. A recent article in Market Watch had this to say:
“After reaching record lows in 2012, mortgage rates are expected to creep up slowly in the year ahead, the Mortgage Bankers Association predicted.
Rates on the 30-year fixed-rate mortgage…
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The Housing market in the Hilton Head Island area is surging. Not
only is the real estate market as a whole surging in the Hilton Head area, so
also are luxury home sales. The number of homes sold for over $1M are up from
87 sold in the first 10 months of 2011,to 99 in 2012, which is a 14% increase.
Here are the specifics.
