Temperatures aren’t the only thing that are expected to rise over the next few months. According to recent market data, mortgage rates are also expected to increase.
This has a lot of implications for those hoping to buy a home or condo here. So if you’re currently considering investing in a Hilton Head Island area property, you’ll want to continue reading to learn more.
Mortgage Rates Nationally Expected to Rise
Evidently, according to major industry analysts, 30 year fixed-rate mortgages are expected to increase to between 5 and 5.6 percent by spring 2015.
As a means of comparison, rates are currently hovering around 4.5 percent.
Here’s a user-friendly way to see what the various agencies are predicting in terms of mortgage rates a year