Interest Rates Hover Near Historic All-Time Lows [INFOGRAPHIC]Some Highlights Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level.
How Increasing Interest Rates Could Impact Your Ability To Buy A Home
“Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates increased over a period of time. In this post, we’ll focus solely on interest rates. Consider this:
Interest rates are projected to increase steadily heading into 2020.
The higher your interest rate, the more money you will end up paying for your home and the higher your monthly payment will be.
Take a look at this chart:
The bottom line: Rates remain low right now – don’t wait until they hit 5% to start searching for your dream home. Call Team Nest Builder’s Lynn Garafola at 973-222-3777 today!
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