Compare Listings

Where Are Mortgage Interest Rates Headed In 2019?

Where Are Mortgage Interest Rates Headed In 2019?

Where Are Mortgage Interest Rates Headed In 2019? | Simplifying The Market

The interest rate you pay on your home mortgage has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.

Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next year.

Where Are Mortgage Interest Rates Headed In 2019? | Simplifying The Market

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated 6.2% from this time last year and are predicted to be 5.1% higher next year.

If both the predictions of home price and interest rate increases become a reality, families would wind up paying considerably more for their next homes.

Bottom Line

Even a small increase in interest rate can impact your family’s wealth, so don’t wait until next year! Let’s get together to evaluate your ability to purchase your dream home now.

Source: Simple

img

J.R.Heller

Related posts

3 Things You Need in a Shifting Real Estate Market

Whether you are thinking of selling your house or buying a home, today’s real estate headlines...

Continue reading
J.R.Heller
by J.R.Heller

The Importance of Homeownership to the American Dream

For centuries, people in this country have seen homeownership as part of the American Dream....

Continue reading
J.R.Heller
by J.R.Heller

Do You Prefer the Charm of an Existing Home?

When homebuyers begin their research, they want to see all their available options! In many...

Continue reading
J.R.Heller
by J.R.Heller

Join The Discussion