Oct 1 2018 20790 1

Dated: 10/01/2018

Views: 81


WHERE ARE MORTGAGE INTEREST RATES HEADED IN 2019?

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.

Where Are Mortgage Interest Rates Headed In 2019? | Keeping Current Matters

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: KEEPING CURRENT MATTERS

Want to Advertise on this Site?

Latest Blog Posts

Oct 15 2018 20790 1

PRE-APPROVAL: YOUR 1ST STEP IN BUYING A HOME In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This

Read More

Home Sales Are Going Up

New Home Sales Up 12.7% From Last Year According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up

Read More

Halloween Clean Up Hacks

How to Get Wax Out of Carpet and Other Halloween Cleanup Hacks Cleaning egg off your house is the first thing to tackle. The wax can wait. A week ago you were worried about how

Read More

Oct 1 2018 20790 1

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

Read More