The rise and fall of home loan interest rates seems to be the hot topic on news stations across the country week in and week out. With so much news, and so many differing opinions on what the changes in the rates mean, it can be hard to discern how they will affect you. Academy Mortgage, the no. 1 independent purchase lender in the nation, is here to help Atlanta new home buyers understand the changes.

Over the past week, there has been a great deal of talk about interest rates and how the monthly meeting of the Federal Reserve is going to affect them. The Federal Reserve is looking to announce when they will begin tapering off the mortgage bond purchasing program. This program has been keeping interest rates low through a federal bond buying program, and many fear that rates will drastically increase once the federal program ends. Although the Federal Reserve voted not to begin tapering the program this month, many experts expect it to start before year’s end.

Academy Mortgage wants both home buyers and industry professionals to understand that although there is a possibility rates will rise, they are still at an all-time historic low. If you look back over a 40-year interest rate history, anything below five percent is at the lowest end of the rate spectrum. It is important to keep the current rate changes in perspective and remember to look at the big picture.

While changes in interest rates may be as much as a quarter to half a percent, many home buyers expect that this can increase their monthly mortgage payment by hundreds of dollars. However, on a $200,000 home, a rate increase of a full half percent will only raise the monthly payment by about $50. While that is not pocket change for most people, it is still not as drastic as what many expect.

Even if interest rates do continue to slowly rise, it is still a great time to purchase a home. With rates still at historic lows of less than five percent, now is the time to begin your new Atlanta home search and visit Academy Mortgage for a complimentary mortgage estimate. For more information on interest rates or to redeem your free estimate, visit www.AcademyMortgage.com.

Academy MortgageEqual Housing Lender. (c)2013 Academy Mortgage License #3113. GA Lic. # 20505. This is not a commitment to lend. Academy Mortgage Atlanta: 5565 Glenridge Connector,  Suite 400. Atlanta, GA 30342. Georgia Residential Mortgage Licensee.

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