SANIBEL REAL ESTATE BLOG: MORTGAGE INTEREST RATES RISING

Long-term U.S. mortgage rates continued to climb this week, reaching their highest level in more than four years and denting prospective home purchasers’ prospects amid the spring buying season.

It was the third straight week of increases for long-term mortgage rates. Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages jumped to 4.58 percent from 4.47 percent last week. By contrast, the benchmark rate averaged 4.03 percent a year ago.

If you are buying Sanibel real estate and looking for a mortgage- shop around, get a great rate and then come to see us about a purchase.

Check out Sanibel real estate listings at www.chuckandrews.com or give us a call to discuss Sanibel real estate anytime!

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