CTeBockhorst's Blog

The Mortgage and Real Estate Scoop

  • Home
  • About
  • Blog
  • Resources
    • Calculators
    • Download My eGuide Today!
    • First Time Buyer Tips
    • First Time Seller Tips
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Home Appraisal
    • Home Inspection
    • What to Expect at a Loan Closing: A Step-by-Step Guide
  • Apply
  • Reviews
    • Read My Reviews
    • Zillow Reviews
    • Leave a Review
  • Contact
You are here: Home / Archives for Rates

What To Do Before Interest Rates Rise

August 11, 2021 by Coleen TeBockhorst

What To Do Before Interest Rates RiseMortgage rates are still low, but they are going up. This is creating a rush of people looking to buy homes before interest rates rise again. While it is difficult to predict when rates will go up again, it is hard for rates to go any lower. Homeowners and buyers need to act now before rates go up. What should homeowners do before rates rise?

Sell Now While Rates Are Low

Anyone who is thinking about selling their house should make every effort to do so now before rates go up again. Because there are so many people who are looking for houses, sellers can get top dollar for their homes, maximizing their profits. This is a great opportunity to move into a larger house to accommodate children, sell a home and downsize, or even sell and move somewhere else with work conditions changing. Interest rates will probably rise in the next few years, forcing buyers out of the market. This could make it harder for sellers to get top dollar for their homes in the future.

Refinance Now While Rates Are Low

In addition, now is a great time to refinance a current mortgage. Homeowners who have been in their homes for a few years might be able to refinance their loans to lower interest rates. This could allow homeowners to lower their monthly payments, pay their homes off sooner, or access equity in their homes to complete an expensive repair process or renovate a portion of their homes. Instead of having to move to a new home, homeowners might be able to upgrade their current living situations by accessing equity through a refinance. Even a small change in interest rates could have a significant impact on the monthly payment.

Act Now While Interest Rates Are Low

These are just a few of the moves homeowners need to make before interest rates rise again. Because interest rates are still low, there are many people looking to buy a home and many others looking to refinance. Even if interest rates rise slightly in the future, this can have a massive impact on the market. All homeowners and buyers need to take advantage low interest rates before they rise. This includes moving up, refinancing, and downsizing.

Filed Under: Mortgage Tagged With: Low Rates, Mortgage, Rates

Next Page »

Contact Coleen

Coleen Tebockhorst

Coleen TeBockhorst
coleen.tebockhorst@citywidehm.com

Senior Loan Officer

Call me! (612) 701-8512

NMLS #274205

Download My Mortgage eGuide today

CW Home Mortgage logo_White

Guaranteed Rate, Inc. DBA Citywide Home Mortgage

Categories

Our Location

10591 165th St. West
Lakeville MN, 55044

Connect With Me

This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in New York will be accepted through this site. Operating in the state of California as Guaranteed Rate, Inc. D/B/A Citywide Home Mortgage. If you are a California resident, please review our Privacy Policy to learn more about the categories and business purpose of personal information we may collect and your right to opt-out from the sale of personal information.

Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Restrictions may apply. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Citywide Home Mortgage does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error-free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Citywide Home Mortgage. Citywide Home Mortgage, its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action.

Coleen TeBockhorst NMLS ID: 274205 Copyright © 1998-2025 Guaranteed Rate, Inc. D/B/A Citywide Home Mortgage. All rights reserved.

For licensing information, go to: www.nmlsconsumeraccess.org.

NMLS License #2611 – 3940 N Ravenswood Chicago, IL 60613. (866) 508-5515. Equal Housing Lender.

Licensing | Privacy | Terms of Use

Copyright © 2025 · Powered by MySMARTblog

Copyright © 2025 · Genesis Sample Theme on Genesis Framework · WordPress · Log in