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Sadly, it seems low mortgage rates are slowly starting to go away. According to Chief Economist for Freddie Mac Sam Khater, “As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year.” So what does this latest trend mean? There is still time to take advantage of low mortgage interest rates. Here’s how.


As of June 29, 2021, the mortgage rates have decreased just a bit from last week but are still on a general but gradual upswing. Rates in April, for example were all below 3% versus this month when most rates are above.


Buy a Home

If you are still hoping to own your home this year, it’s not too late. More people are realizing that renting is not a long term solution and not setting yourself up for success in the future. Do not give up hope. Be sure to take advantage of low mortgage interest rates. More homes are coming on the market. Despite competition, you may just find a home that suits your needs. With proper planning and being pre-qualified, you can get a low enough interest rate to lock it in a 15 or 30-year loan and pay less in monthly payments and in the long run.

Think about Selling Your Home

If you are still on the fence about whether to sell your home now or not, take into consideration that the market is shifting. As mortgage rates increase, there will be less buyers competing for your home. Agents are already reporting a shift in the market. There is still time to take advantage of the market and hopefully, get multiple offers on your home.


If you have no intention of leaving your home or wanting to sell, then hopefully you have already taken advantage of the low mortgage rates by refinancing your home. If not, there is still time. With about 20% equity in your home and good credit, now is the time to reach out to lenders. Be sure to get the best rate to lock in a better rate and save on monthly payments.


This is the perfect time to take advantage of low mortgage interest rates. Be sure to weigh your options and do your research. Please reach out if you have any questions.

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