Friday's "Catastrophic Surge" in Mortgage Rates

Friday's "Catastrophic Surge" in Mortgage Rates

Don't let the headline mislead you. Coming from a journalism and broadcasting background, I understand how easily media can manipulate the public opinion.

It's important to remember to take a step back and look at the big picture when it comes to the housing market. After all, there are so many factors in play- employment, interest rates, inventory, politics to name a few.

Yes, interest rates rose on Friday. But let's not forget that these same rates have been hovering around historical lows for some time now.

A 4.75 rate is still a great rate. It's half the number we saw in the 90s and one-quarter the number we saw in the 80s.

Can you imagine gas prices dropping to $1/gallon and then complaining when they rise to $1.10/gallon? 

I hope that helps put the interest rate "catastrophic surge" into perspective. It's still very affordable to buy property and it's a great time to sell.

By +AimeeandAngel Garcia