Real Estate Information Archive


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What is happening to Interest Rates?

by Cynthia LaChapelle


Interest rates have been rising all year. This has affected your home buying power. The higher the rate, the less home you can afford for the exact same payment. In other words, the same-priced home costs you more per month. For more information on buying power, go to  For Buyers/Questions.

Example:  A $425,000 conventional loan at  3.95%  equals  $2016.78  PI (Principal and Interest)

                                     The exact same loan at    4.54% equals  $2163.53 PI  (Principal and Interest)

                                      $146.75 more per month.  (Not including tax, homeowner's insurance,  etc.)

Interest rates show no signs of stopping or reversing. In fact, the Federal Reserve raised interest rates on Wednesday. Chairman Jerome Powell said that two more increases were on the way this year. (Mortgage rates fluctuate based on many factors not just the Fed rate.)  See Rate Table at bottom.

One help in purchasing power is that the caps on Fannie Mae/Conventional Mortgages and FHA/HUD mortgages have increased for this year. This allows you to purchase more home and/or need less down payment.

Loan Limits for 2018

            HUD                                         Conventional

  • Wake $318,550                      $453,100
  • Orange  $379,500                    $453,100
  • Durham  $379,500                 $453,100        
  • Johnston  $318,550               $453,100
  • Chatham  $379,500               $453,100


2018 Interest Rate Chart


Data for this Date Range


June 7, 2018


May 31, 2018


May 24, 2018


May 17, 2018


May 10, 2018


May 3, 2018


April 26, 2018


April 19, 2018


April 12, 2018


April 5, 2018


March 29, 2018


March 22, 2018


March 15, 2018


March 8, 2018


March 1, 2018


Feb. 22, 2018


Feb. 15, 2018


Feb. 8, 2018


Feb. 1, 2018


Jan. 25, 2018


Jan. 18, 2018


Jan. 11, 2018


Jan. 4, 2018



All information contained is deemed accurate but not guaranteed. Reader should conduct their own due diligence and not rely on these figures and calculations. Need a Loan Analysis?

Beware the "Buy Your House Quick and Easy" Trap - Part 1

by Cynthia LaChapelle

Mr. Tan had received about 20 mail pieces before he finally called the phone number.  Someone seemed to want his rental property very much. 


  •           I Want to Buy Your House.  

  •           Sell with No Commission or Hassles. 

  •            I'll Buy Your House AS IS.  


These are some of the letters and post cards. It sounded like just what he needed  to cash out of the house he had bought in the 1980s for his parents. He originally went under contract in December to sell for $209,000, which seemed like a great price considering it needed work.  That was also a good bit above the tax value. The investor making the offer was with Citylink, a national company, which gave him assurance that they had the money and would close quickly as promised. But they did not. Actually, he soon saw his house posted for sale in the Multiple Listing Service (MLS) by an unfamiliar realtor for $224,000. Mr. Tan was surprised, because he was told that Citylink was buying the home. 

He contacted the original investor for answers, and the listing disappeared from the MLS. It "expired" after only 11 days on the market. (If listings are withdrawn, paperwork signed by the property owner must be filed with the MLS, but a listing can expire without ever submitting anything -even the original document - to MLS.) 

Then he told Mr. Tan that Citylink had decided not to buy the house. He said that he was very sorry and annoyed at the company that he purported to work for, so he was going to leave Citylink and try to help Mr. Tan under the name of his own company.  But he wouldn't be able to buy the house himself, because he didn't have the financial resources that the big company had.  

The investor put Mr. Tan's house under a new contract for sale at $175,000. Mr. Tan agreed to a $34,000 price drop. The financial noose was tightening. Since he had agreed to sell his house for a very attractive $209,000 with no fees or commissions, he had moved out his tenants and his mother. His house was no longer producing income, and he had to pay rent for his mother's apartment. 

The justification for the much lower price was that the company had hired an inspection which showing that the house needed a lot of work. This condition was obvious from the beginning, but now it was the pretext for lowering the price drastically. Mr. Tan was willing to do it, because he was now financially committed to selling the house. He had a new monthly burden, but he really had no idea what had already been done to the public records to force his sale without his knowledge and how far this would go.  

Read part 2 for more of the story 

Displaying blog entries 1-2 of 2