There may not be any benefits to waiting to buy. In fact, you could still have the same monthly mortgage payment even if the interest rates fall.


I’ve received comments from a lot of concerned buyers over the past few months regarding increasing interest rates. So today Jeff Miller of Sunmark Federal Credit Union has joined me to answer questions about what is going on in the market.

According to Jeff, interest rates are steadily increasing and are a lot higher now than they were years ago. But the good news is that they are still at historic lows. Therefore, Jeff advises that you should lock in your rate now before they move again. Do not wait to see if interest rates come down, because they have been holding steady and it’s believed that they’ll stay that way for a while.

The real risk of waiting is that the market is very strong and home prices will continue to go up. So, even if the rates go down while home prices increase, you may still have the same payment. While you should keep interest rates in mind, the more important consideration is to think about whether a home fits your needs. If it does, and you are able to afford the payments on it, then there is no reason to wait.

“The real risk of waiting is that home prices may continue to go up even if the interest rates decrease.”

Jeff recently helped us with a buyer that was in an approved contract with everything ready to go and then had issues with financing at the last minute. Jeff had a great 100% financing program which he was able to streamline for the buyer, who was having problems with the appraisal. The client was using a different lender and the appraisal came in and their down payment was not going to be enough to handle the transaction.

They decided to work with Jeff for a 100% financing option which allowed the client to get a higher loan amount than any other lender could offer. Jeff helped get the deal finished for them.

If you need more information about this, you can contact Jeff at or 1-866-SUNMARK. And, if you are looking to buy or sell, please feel free to call me at 518-376-1073 or email me at I look forward to speaking with you soon.