Where Are Mortgage Interest Rates Headed In 2019?
Christian Penner
?? Looking to BUY ??, SELL ??, LEASE ??, INVEST ??, or BUILD ???? We specialize in Funding?? for Homes, Commercial RE ??, Custom Docks ??, Seawalls ???, and more. Call us TODAY ?? and make CONFIDENT decisions ????
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.
Mortgage Brokers in North Palm Beach FL, Christian Penner Mortgage Team, North Palm Beach FL mortgage lender specializes in conventional, FHA, VA, Jumbo and Reverse Mortgages. Competitive Rates, Apply Today!
Questions, Comments or For more information you can contact Christian Penner at: (561) 316-6800 Visit us online at www.ChristianPenner.com
The Christian Penner Mortgage Team,
Buyer Referral Hotline : (561) 316-6800