Where Are Mortgage Interest Rates Headed in 2018?

February 7, 2018
9:12 am

Tony Meier & Team. 37 years. 789 closed sales. $239M+ in closed volume since 2020.

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.

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.

Thinking about a move on the Eastside?

Tony Meier & Team has closed 789 residential transactions with $239M+ in volume since 2020. Whether you are six months out or just curious about your home’s value, we would be glad to help you think it through.

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Tony Meier & Team

37 years experience. 789 closed sales. English Hill resident since 2001. 213 sales serving the English Hill Area.

425-466-1000 | tony@eastsidehomes.com | EastsideHomes.com

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Tony Meier & Team
Windermere Northeast
11411 NE 124th St #110, Kirkland WA 98034
425-466-1000
tony@windermere.com

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Where Are Mortgage Interest Rates Headed in 2018?

How Will This Impact Your Mortgage Payment?

Bottom Line

Thinking about a move on the Eastside?

Tony Meier & Team

Contact Us

Get the Weekly Update

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Latest Market Updates

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