Urgency in Sarasota Real Estate Market

As of March 31, only days away, the federal government will cease its backing of mortgage based securities. Many believe that this move will cause rates to begin to rise, perhaps rapidly. Buyers of real estate who are looking to secure a mortgage may see the window of sub 5% rates rapidly closing. A mortgage rate increase of even 1 percentage point makes a huge difference over the life of a loan. If you are considering a real estate purchase requiring financing, this may become the most critical factor to consider.