« Return to Blogs

Will You Get the Mortgage Rate You Need?

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.

Text: WHY2BUY  to 79564 for FREE, NO HASSLE Winter 2018 Buyer's Guide

Text: PORQUECOMPRAR to 79564 para, Cosas Que Considerar al Comprar Su Casa

Text: SHOULDIBUY to 79564 for Free, No Hassle Millennial Buying Guide or DEBERIACOMPRA to 79564 para Guia Millennials

Text: SHOULDISELL to 79564 for your FREE, NO HASSLE  Winter 2018 Seller's Guide, "Things to Consider When Selling Your Home"

Test: DEBERIAVENDE to 79564 para "COSAS QUE CONSIDERAR AL VENDER SU CASA"