Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates have stayed near historic lows.
Sellers should realize that waiting to make the move when #mortgage rates are projected to increase probably doesn’t make sense. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain budget for your monthly housing costs.
Here is a chart detailing this point:
According to Freddie Mac, the current 30-year fixed rate is currently around 3.75%. With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, by $10,000).
Freddie Mac predicts that #mortgage rates will be closer to 4.7% by this time next year.
Act now to get the most house for your hard-earned money. http://www.simplifyingthemarket.com/en/2016/04/04/dont-wait-move-up-to-your-dream-home-now/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage
No comments:
Post a Comment