Oct 1 2018 20790 1

Dated: 10/01/2018

Views: 121


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

Blog author image

Marianne Page - DRE 01447929

I have been working as a realtor in Riverside since 2004. As a dedicated professional, I implement plans and strategies along with strong negotiating skills and an extensive marketing plan to get your....

Want to Advertise on this Site?

Latest Blog Posts

Feb 13 2019 25821 1

Tax Deductions for Homeowners: How the New Tax Law Affects Mortgage Interest Tax changes for 2019 change the landscape for homeowners. Tax season is upon us once again, and to make it even more

Read More

Feb 5 2019 Down Payment

ONE MORE TIME… YOU DO NOT NEED 20% DOWN TO BUY A HOME The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising

Read More

Feb 4 2019 20198 1

YOU ARE PAYING OFF SOMEONE'S MORTGAGE WOULDN'T YOU RATHER IT BE YOURS!There are some people who haven’t purchased homes because they are uncomfortable taking on the obligation of a mortgage.

Read More

Tidying Up Tips Hit The Housing Market

Admit it — over the holiday break you found yourself binge watching the hit show with superstar organizing consultant Marie Kondo and quickly realized your place is not 

Read More