Where Are Mortgage Interest Rates Headed In 2019

Dated: 09/25/2018

Views: 77

 

Where Are Mortgage Interest Rates Headed In 2019?

Where Are Mortgage Interest Rates Headed In 2019? | MyKCM

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? | MyKCM

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.


Blog author image

Danny Crow

As a real estate agent since 2000, I enjoy helping others discover Central Texas and make a home here. Real estate in Austin offers many options to home buyers and I will make sure you explore every o....

Want to Advertise on this Site?

Latest Blog Posts

Designing Your Outdoor Living Space This Summer 4 Hot Trends By Suzanne De Vita

From bohemian cues to minimalistic touches, the decor in our homes is migrating outdoors for the summer—and balance, in both colors and materials, is the overarching theme, according to a new

Read More

Neighborhood Amenities To Look Into Before Purchasing A Home By Kurtis Forster

If you're on the hunt for a new home, you need to be doing your homework. Research before buying a new home is absolutely crucial to ensure you're making the right choice. After all, you

Read More

Mar 14 2019 13081 1

Sell Your Home with These Low-Cost Improvement IdeasBy Suzie Wilson It’s a sellers’ market but that doesn’t mean you don’t have to put some effort into your real estate listing. With

Read More

Whats Going On With Bidding Wars

What’s Going On with Bidding Wars?In a strong seller’s market, like the one we have experienced over the past few years, bidding wars are common and expected. This makes sense! A

Read More