Home Sales Contract Cancellations Rise Along with Interest Rates

Potential homebuyers across the Atlanta area are canceling home sales contracts at the highest rate in over a year as home mortgage interest rates continue to rise.  Home mortgage rates have increased in recent months as the Federal Reserve has increased the rates it charges banks and other financial institutions as a way to fight inflation.  30 year home mortgage rates across the Atlanta area reached the 8% range during the first week of October.

Contact Peachtree Mortgage Services, Inc. at peachmtg@bellsouth.net or 770.698.9394 to discuss your home mortgage needs, anywhere in the state of Georgia.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.