July 5 2018
What will happen when mortgage interest rates rise?
Most experts think that the mortgage interest rate will increase to about 5% by year’s end. How will that impact affordability? Zillow also covered this in their report (see infographic)
Rates would need to approach 6% before homes became less affordable than they had been historically.
Though homes are less affordable today than they were last year, they are still a great purchase while interest rates are below the 6% mark.
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