Greater Boston MA | Where Are Mortgage Interest Rates Headed In 2019?

Dated: 09/25/2018

Views: 162

Boston Realty Homes Mortgages 2019

Greater Boston MA | Where Are Mortgage Interest Rates Headed In 2019?

If you are looking to buy a home in Greater Boston. As a real estate agent, I want to be prepared to ensure that you are given the best buying experience with knowledge and expertise to guide you along the way. One of the methods I use is to research the current inventory almost on a daily basis, I want to know where are the best deals for my clients when it comes to purchasing a brand new home in the Greater Boston area.   

Today, I would like to talk to you about 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.

Boston Realty Homes Mortgages 2019

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.

Source... KCM Erik Raftery Real Estate Blog

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Erik Raftery

Hello, you're very welcome to Erik Raftery Real Estate with Exp Realty Boston Massachusetts! We are a full-service real estate business focusing on selling, buying and leasing residential real estate....

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