How Increasing Interest Rates Could Impact Your Ability To Buy A Home

Dated: 07/22/2019

Views: 150

Thinking about purchasing a home but not sure if now’s the right time?  Here’s a Team Nest Builder tip: consider the cost of WAITING to buy that home.  

What's YOUR cost of waiting to buy?

“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 Cost of Waiting: Interest Rates Edition [INFOGRAPHIC] | MyKCM

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! 

Liked this article? Check out our blog for loads of helpful information on real estate, home improvement and community events!

Source: Keepingcurrentmatters.com


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