Mortgage Interest Rates Trending Higher
The national housing market has begun to reveal signs of balance while the FED continues to indicate mortgage interest rates will likely move upward for the foreseeable future. Notes from the Federal Reserves most recent meeting show strong sentiment for increasing rates regardless of growing wonder over the sustainability of the countries current period of economic growth.
Currently a 30 year fixed costs approximately 4.5% which equates to an extra $100 in monthly mortgage payment on a $350,000 loan amount when compared to recent mortgage interest rates of 4%. Rising rates will inevitably have a impact on the Sunriver real estate market but typically interest rates have greater effect on more traditional residential markets like Bend Oregon as opposed to secondary / investment type markets like Sunriver Resort.