Top 3 Gahanna Neighborhoods with Great Value: The Top 3 neighborhoods I’ve chosen are all located in Gahanna, which has been named an Ohio Magazine Best Hometown, one of the best places
Mortgage Interest Rates in 2019
Dated: September 27 2018
Views: 838
The interest rate that you pay on your mortgage has a direct impact on your monthly payment; the higher the rate, the larger the payment will be. That is why it's 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 year.
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, home prices have appreciated 6.2% from this time last year and are projected to be 5.1% higher next year.
If both the predictions of home price and interest rate increases become a reality, families would wind up paying considerably more for their next homes.
Bottom Line
Even a small increase in interest rate can impact your family’s financial situation, so don’t wait to make a move. Meet with a real estate agent to evaluate your ability to purchase your dream home now.
Amy Paul
I was born and raised in Columbus, graduated from Bishop Hartley High School, then received a business degree from Butler University in Indianapolis. I have 16 years of residential real estate with bo....
Latest Blog Posts
How the Appraisal Process Works: To begin, an appraisal is an unbiased professional opinion of a home’s value, usually conducted by a professional licensed appraiser. Appraisals are
The process of buying a house isn't a one size fits all philosophy. Choosing the right lender for you and your situation can save you time, money and anxiety. As with any partnership, it's important
The interest rate that you pay on your mortgage has a direct impact on your monthly payment; the higher the rate, the larger the payment will be. That is why it's important to know where rates are
Columbus REALTOR® and Central Ohio Regional Multiple Listing Service, Inc .All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective
