Where Are Mortgage Interest Rates Headed In 2018

Dated: 02/07/2018

Views: 709

 

Where Are Mortgage Interest Rates Headed in 2018? | Simplifying The Market

Where Are Mortgage Interest Rates Headed in 2018?


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 12 months.

Where Are Interest Rates Headed? | 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 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. Let’s get together to evaluate your ability to purchase your dream home.


Blog author image

John Priestash

John was born and raised in Pennsylvania and has now lived in Texas for 14yrs. Upon graduating high school John enlisted in the Army where he served 6 years active duty. After serving in the military....

Want to Advertise on this Site?

Latest Blog Posts

Feb 18 2018 55759 1

How to choose the city you will live in,Many people when choosing a city where they will purchase their home do so because of its proximity to work.  Lets face it with the traffic we contend

Read More

Low Inventory Pushes Home Prices Higher

  Low Inventory Pushes Home Prices Higher  According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December

Read More

Where Are Mortgage Interest Rates Headed In 2018

  Where Are Mortgage Interest Rates Headed in 2018? 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

Read More

Now Is The Perfect Time To Sell

It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is

Read More