Though mortgage rates are still at historical lows, they are expected to rise in 2014. According to Realtor.com, the average rate on a 30-year fixed mortgage has increased from 4.47 percent to 4.48 percent. Furthermore, there was an increase of 1.13 percent year-over-year. This time last year, the average was at 3.35 percent.
“The recent increase is attributed to the Federal Reserve’s decision to cut back on its bond-buying stimulus program by $10 billion per month,” stated Realtor.com. “The program helped to offset dramatic gains in real estate prices and kept affordability elevated.”
If you’re a Central PA Realtor, be sure to let your clients know about this increase. If they are ready to buy, take them through some of our great Harrisburg new homes.
Priced at $244,912, one move-in ready home in Harrisburg features the Solomon Traditional floor plan. Located at Apple Creek Farms, the home features four bedrooms and two-and-a-half baths.
Because of its charming homes like the Solomon, your buyers will love Apple Creek Farms. The community is also minutes from the government offices, major employers, shops, restaurants and cultural opportunities of Harrisburg.
Another Harrisburg move-in ready home is priced at $254,912 in our Ivy Ridge community. Featuring the Hamilton Traditional floor plan, the home has four bedrooms and two-and-a-half baths. Ivy Ridge is convenient to I-83, I-81, the PA Turnpike and the Harrisburg Mall.
Mortgage rates are only going to get higher this year, so take your clients on a tour today! For more information, visit www.KeystoneCustomHome.com.