Concord NH Real Estate - Where Are Mortgage Interest Rates Headed In 2019?
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 New Hampshire home search.
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 6.2% from this time last year and are predicted 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.
Even a small increase in interest rate can impact your family’s wealth, so don’t wait until next year! The process of buying a home can be overwhelming at times and you won't need to go through it alone. I'd love to get together to help with evaluating your ability to purchase your dream home now.