Where Are #MortgageRates Headed…

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The interest rate you currently pay on your home mortgage has a direct impact on your monthly payment. For example the higher the rate the greater the payment will be. For this reason only, this is why it is very important to look at where rates are heading when you are deciding to buy now or wait until next year.

Below is a chart created using Freddie Mac’s July 2015 U.S. Economic & Housing Marketing Outlook. Take note as you can see interest rates are projecting to increase steadily over the course of the next 12 months.

30 Year Fixed Rate Prediction | Keeping Current Matters

How Will This Impact Your Mortgage Payment?

Well…depending on the amount of the loan that you have secure,d a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

Dr. Frank Nothaft, the SVP & Chief Economist for CoreLogic, had this to say:

“If you are thinking of buying a home and have the financial means to do so, this could be a good time to take a look at the neighborhoods you are interested in. We expect home prices in our national index to be up about 4.3% in the next 12 months, and mortgage rates are also likely to increase over the next year.”

If both the predictions of home price and interest rate increases become reality, you could wind up paying considerably more for  your next home.

Advice: Even a small increase in interest rate can impact you & your family’s wealth. Meet with me to evaluate your way to purchase your dream home.


We are Frisco, TX home specialists. If you have any questions about real estate in Frisco, or any neighboring DFW communities, please fill out our contact form, or call 469-556-2393 for assistance.

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Nick Walton
JP And Associates REALTORS
469-556-2393
Nick@NickWaltonRealtor.com