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    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? | Simplifying The Market

    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.

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    Shalini Schetty

    Shalini Schetty is an elite Licensed Real Estate Sales Person and a Trusted Real Estate Advisor at Berkshire Hathaway Home Services Laffey International Realty in Huntington, NY. Shalini is one of the top-producing licensed Real Estate Sales Agents in the area. After obtaining an MBA and pursuing a successful career in finance at JP Morgan in Manhattan, Shalini decided to leverage her international experience (with extensive ties to Asia and India), business background, and love of real estate to start a career in real estate. As a real estate professional for over eighteen years, Shalini consistently delivers outstanding results for her clients.

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