Everyone want’s to know, Where are interest rates heading?


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 look at where rates are headed when deciding to buy now or wait until next year.  Below is a chart created using Freddie Mac’s February 2015 U.S. Economic & Housing Marketing Outlook.  As you can see interest rates are projected to increase steadily over the course of 2015.

Mortgage-Rate-Projections-KCMAnother drag on purchasing power is inflation.  As inflation goes up, purchasing power goes down.  In our next issue we will talk about “appreciation” and the myth that property value increases.

 

 

About FineHomesDigest

The Fine Homes Team, Mark Finchem, Associate Broker with Long Realty Company, provides service to buyers, seller and builders where fine homes are concerned. With extensive experience in residential real estate transactions we can help you with the home you'd rather have.
This entry was posted in Affordability, Consumer Experience, Fine Homes, Housing Market, Mortgage interest rates and tagged , , , . Bookmark the permalink.

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