Winning Strategies in Real Estate: Where Are Interest Rates Headed in 2019?

Where Are Interest Rates Headed in 2019?

interest rates

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 throughout 2019.

 

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. But don’t let the prediction that rates will increase stop you from purchasing your dream home this year!

Let’s take a look at a historical view of interest rates over the last 45 years.

Bottom Line

Be thankful that you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.

 

Tony Morganti, CRS, ABR

330-352-9513

Comment balloon 2 commentsTony Morganti • December 05 2018 10:24PM

Comments

Interesting post -- notice a substantial increase in interest rates over past six months for equity lines.

Posted by Sharon Kolb, Broker - Atlanta Decatur Homes (Atlanta Decatur Homes) 8 months ago

HMMM, the Fed says we can see rates stay level for 2019.  so I wonder who  is right

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) 8 months ago

Participate