Mortgage Rates and Inflation

Inflation has been rising about 3% for the past 3 years, some of the highest in a decade, and the past five months has averaged about 4%. Interest rates are on the rise because of future fears of inflation. With real estate conditions the way they are with a housing surplus, low prices, and currently low mortgage rates now looks like a fairly good time to buy. If the outlook by consumers is the fear that inflation is on a higher than normal increase, their investments which may possibly be the sources of mortgage funds are not as attractive. Mortgage funds can start to decline. Less funds with all else equal will cause more competition for these funds. This along with some other factors can increase mortgage rates. If you had been thinking about buying or, especially if you have a place in mind, now might be the time to seriously consider. Contact a Weichert Myrtle Beach realtor about market conditions, mortgage options, and real estate advice. Use Southern Coast's Myrtle Beach Property Search to find the perfect Myrtle Beach or North Myrtle Beach condo or home.