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Lock in a mortgage rate now!

Dilworth has many great homes for sale right now. From castle sized mansions to cute cottages and bungalows, the Dilworth neighborhood is the perfect place to buy a home. If you’re considering buying a home or planning to refinance, here’s some advice: lock in a mortgage rate. Now!

Charlotte Homes for Sale

As written by USAToday, mortgage rates could shoot higher if lawmakers fail to reach an agreement to raise the debt ceiling by Tuesday. A government default would cause Treasury bond prices to plummet, and yields would rise. Even if the default is short-lived, the ratings agencies have signaled they’ll downgrade U.S. debt. That would also drive up consumer rates, because the government would be forced to pay higher rates to bond investors.

So far, the debt-ceilingdebate hasn’t affected mortgage rates. The average rate for a 30-year fixed-rate mortgage for the week ended July 28 was 4.55%, only slightly higher than a week earlier, according to Freddie Mac. Rates slipped on Friday after the Commerce Department reported that the economy grew at a lower-than-expected 1.3% in the second quarter.

How the debt-ceiling crisis could affect other consumer rates:

Credit cards. Interest rates would likely rise, although not right away. Credit card issuers are required to give you 45 days notice before they raise your interest rate. You can protect yourself from a rate hike from paying off your balance–which makes sense even if the government doesn’t default.

Certificates of deposit: Savers who hope that higher Treasury rates will boost low CD rates will be disappointed, McBride says. Those rates won’t improve until banks increase lending, and that’s not going to happen if there’s a downgrade or default.If a default causes safety-seeking investors flood banks with cash, McBride adds, rates could fall even more.



Sarah Martin


Call / Text: 704.604.2445

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