When we think of real estate, we tend to think of the positives: a place to call our own, beautiful interior design, and—if ratings are any indication—all the wildly entertaining real estate TV
Mortgage Rates Predicted To Rise In 2018 If You Want To Buy Now Is The Time
Buying a home is about to get a lot more expensive.According to a recent report from Freddie Mac, mortgage interest rates are predicted to rise in 2018. The rate for a 30-yr fixed-rate mortgage was 3.9% in Q4 of 2017, and it is forecasted to jump an entire percentage point to 4.9% by the end of 2018.A percentage point might not seem like much, but it makes a huge difference in how much you'll pay for your home over the length of your mortgage. If you took out a $350,000 30-yr fixed rate mortgage, your monthly payment at 3.9% would be $1650.84. At 4.9%, it would be $1857.54 - and you'd pay a whopping $74.413.73 more in interest over the course of the loan.If you're thinking about buying, now is the time to do it. If you push off buying a home until later in the year, you're likely going to face significantly higher mortgage rates - and end up paying tens of thousands (or even hundreds of thousands) of dollars more for your home than you would if you made the purchase today.
Latest Blog Posts
After putting their home search on hold during the height of the COVID-19 pandemic, buyers are returning to the market ready and eager to purchase a home. But the biggest challenge facing them in