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Where Are Mortgage Interest Rates Headed In 2019?

Posted by David E. DeChant on Tuesday, September 25th, 2018 at 9:09am.

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! Meet with a local real estate professional to evaluate your ability to purchase your dream home now.

 

 

Source: https://www.keepingcurrentmatters.com/2018/09/25/where-are-mortgage-interest-rates-headed-in-2019/ 

3 Responses to "Where Are Mortgage Interest Rates Headed In 2019?"

The Cost Of NOT Paying PMI wrote: [...]Links

Where Are Mortgage Interest Rates Headed In 2019?
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Posted on Wednesday, September 26th, 2018 at 1:39pm.

Are Home Prices Softening Or Are They Falling? wrote: [...]Links

The Cost Of NOT Paying PMI
Where Are Mortgage Interest Rates Headed In 2019?
How Much Has Your Home Increased In Value?




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Posted on Thursday, September 27th, 2018 at 9:53am.

Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC] wrote: [...]Are Home Prices Softening Or Are They Falling?
The Cost Of NOT Paying PMI
Where Are Mortgage Interest Rates Headed In 2019?




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For Buyers (156)
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Posted on Friday, September 28th, 2018 at 10:45am.

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