Where Are Mortgage Interest Rates Headed In 2018

Dated: 02/12/2018

Views: 45

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.

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 7.0% from this time last year and are predicted to be 4.2% higher next year.

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

Bottom Line 

Even a small increase in interest rate can impact your family’s wealth. Meet with a local real estate professional to evaluate your ability to purchase your dream home.

Want to Advertise on this Site?

Latest Blog Posts

Apr 6 2018 51193 1 How To Sell A House In 2018 5 Tips To Get The Edge This Year

1. Market to millennials43% of the home buyers are between the age of mid 20's-mid 30's. 2. But don't forget about baby boomers, tooA hot home buying group. 65 and older. 3. Go

Read More

Be Thankful You Dont Have To Pay Your Parents Interest Rate

Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased

Read More

One Months Rent Could Get You Into Your DREAM HOME

Yes, it's true!There are lenders that offer a 1% down program that is NOT FHA!The lender contributes 2% to the deal so that you have immediate equity of 3% at closing!In addition, there are programs

Read More