Columbia SC Mortgage Rates Continue Ticking Upward

Columbia SC mortgage rates increasing, along with increased home prices and diminishing inventory, are setting the stage for some procrastinating home buyers to soon realize they may have missed the bottom of the housing market, and the best time ever to buy a home.

What Has Columbia SC Mortgage Rates (As Well As Rates Nationwide) Climbing Again?

Frank Nothaft, VP and chief economist with Freddie Mac, said in a recent statement that “the latest economic indicators point toward low inflation but gradually stronger economic activity which placed further upward pressure on long-term Treasury yields and, in turn, fixed mortgage rates.”

In a separate statement, Bankrate.com attributed the increases to a quieter “European front,” as member states there continue to funnel funds into debt-straddled countries.

Nervous investors have unwound some of the safe-haven trades that helped bring bond yields and mortgage rates lower,” the finance website said. “Whether the upward trend can be sustained depends on what happens on both sides of the Atlantic, with the European debt crisis and the path of the U.S. economy.”

What do you think about today’s mortgage rates? Will they continue their upward trend, allowing all-time home affordability to recede? It may well be a good thing, as the National Association of Home Builders pointed out recently by saying that declining affordability could mean that the housing market finally bottomed out.

Will higher Columbia SC mortgage rates cause you to speed up your thought process about buying a home, or will higher rates not really affect what you do? We’d love to hear your comments and thoughts on the upward trend in mortgage rates.