Where Are Mortgage Interest Rates Headed In 2019?

Dated: September 25 2018

Views: 113

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? | 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 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.

Blog author image

Curtis Johnson

Curtis is a Best Selling Author, the Founder and CEO of The Curtis Johnson Team Powered By eXp Realty, where he runs a dynamic Real Estate Team having sold 5,000 residential homes. The Wall Street Jou....

Latest Blog Posts

The best bet!

https://www.mykcm.com/2021/02/08/6-foundational-benefits-of-homeownership/

Read More

our House May Be High on the Buyer Wish List This Holiday Season

Your House May Be High on the Buyer Wish List This Holiday SeasonAround this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who

Read More

Is it okay to list my house for sale in this Pandemic?

Is it Safe to Sell My House Right Now?In today’s real estate market, the buzz is all about how it’s a great time to sell your house. Buyer demand is high, and there simply aren

Read More

Mortgage Outlook for 2021

Will Mortgage Rates Remain Low Next Year?In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows

Read More