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
Where Are Interest Rates Headed In 2019
Dated: 12/09/2018
Views: 80
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 throughout 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. But don’t let the prediction that rates will increase stop you from purchasing your dream home this year!
Let’s take a look at a historical view of interest rates over the last 45 years.
Bottom Line
Be thankful that you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.
Let's Chat Today to Find you Your Dream Home!
Latest Blog Posts
Every year at this time there are many homeowners who decide to wait until after the holidays to list their homes for the first time, while others who already have their homes on the market decide
Over the past few years, two trends have emerged in the housing market: Home renovations have shot up Inventory of homes available for sale on the market has droppedA ‘normal’ housing market
The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2018 and is owned either by the Monmouth County Association of REALTORS; or by the developers of the software, Kunversion, LLC. All rights reserved. Each office independently owned and operated.
The New Jersey Real Estate Commission requires every licensed broker or salesperson with whom you list your property to give you a copy of this notice. The purpose is to help you comply with the New Jersey Law
The data relating to real estate for sale on this web-site comes in part from the Internet Listing Display database of the CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC. Real estate listings held by brokerage firms other than this site-owner are marked with the ILD logo. The CENTRAL JERSEY MULTIPLE LISTING SYSTEM, INC. does not warrant the accuracy, quality, reliability, suitability, completeness, usefulness or effectiveness of any information provided.
The information being provided is for consumers'
