December 10 2018
What If I Wait A Year to Buy a Home?
The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Insights Report, home prices will appreciate by 4.8% over the next 12 months.
What Does This Mean?
If home prices appreciate by 4.8% over the next twelve months as predicted by CoreLogic, below is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000
Buying a home sooner rather than later could save you thousands of dollars over the terms of your loan! Give me a call to see what your options are!