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Where Are Mortgage Interest Rates Headed in 2018?

February 7, 2018 By Chrysti Tovani

long highway under blue skies

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 12 months.

mortgage rates chart

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 7.0% from this time last year and are predicted to be 4.2% higher next year.

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line 

Even a small increase in interest rate can impact your family’s wealth. Let’s get together to evaluate your ability to purchase your dream home.

 

DISCLAIMER: The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Chrysti Tovani does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Filed Under: First Time Buyers, For Buyers, Interest Rates, Move Up Buyers Tagged With: #sactownmarket, bay area buyers, Fair Oaks homes, Fair Oaks Listings, move to Sacramento, Sacramento finest homes, Sacramento housing, Sacramento Listing, Sacramento Properties, Sactown Market

About Chrysti Tovani

Chrysti Tovani is a Sacramento Real Estate Agent with a passion for guiding individuals through life transitions. Drawing from personal experiences and professional expertise, she provides insight into navigating challenges, embracing change, and building a resilient future. Through her writing, Chrysti aims to empower readers to transform adversity into opportunity. 916-320-2663. Chrysti Tovani, REALTOR DRE#01118449 RE/MAX Gold, Fair Oaks, CA - Sacramento County

Chrysti Tovani - Sacramento California Realtor

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