Where Are Mortgage Interest Rates Headed In 2018

Dated: 02/07/2018

Views: 10

Where Are Mortgage Interest Rates Headed in 2018?

Where Are Mortgage Interest Rates Headed in 2018? | MyKCM

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? | MyKCM

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.

Latest Blog Posts

Chelan Vista Heights 20 Acres Sweeping Views

Chelan Vista Heights is a gated community of 20+ Acre parcels situated above the town of Chelan. This parcel, Lot 11, offers a 180 degree panoramic view of the orchards at Howard Flats and the

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 will

Read More

Thinking Of Selling Why NOW Is The Perfect Time

Thinking of Selling? Now is the Perfect TimeIt 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

Read More

December NWMLS Market Snapshot

Infographic of market activity for the entire NWMLS region in the Month of December

Read More