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Where Are Mortgage Interest Rates Headed In 2019
Dated: 09/25/2018
Views: 52
Where Are Mortgage Interest Rates Headed In 2019?
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.
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.
Larry Gilman
I've been involved in the Real Estate business since 1994 and have helped over 1,200 families buy or sell a home, some I've done two and three times. I specialize in creative financing, home marketing....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Listings displayed are the property of Corpus Christi Association of Realtors. Copyright © 2018 and provided here for consumer's personal, non-commercial use, and may not be used for any purposes other than to identify prospective properties consumers may be interested in purchasing.
Information should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended. Copyright ©2017 All rights reserved.
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information from the Austin Board of REALTORS®. Neither the Board nor ACTRIS guarantees or is in any way responsible for its accuracy. All data is provided "AS IS" and with all faults. Data maintained by the Board or ACTRIS may not reflect all real estate activity in the market.
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