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.
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.
Another Leisure Village Home SOLD by Sharron Parker Team Prior to Going on the MLS!
This highly-desired free-standing El Dorado model (no common walls) with two car garage sold BEFORE IT WENT ON THE MLS!
2 bedrooms, 1 3/4 bathrooms, formal dining as well as kitchen eating area, a den, large, private covered patio and a workshop area adjacent to the two car garage
Peaceful view of the lush golf course across the street
17242 Village 17 – SOLD $20,000 Over List Price!
A gorgeous tree shaded golf course location and view for this highly and tastefully upgraded La Jolla (largest) model in beautiful Leisure Village (55+) community. From the entry you will instantly notice the rich and polished hardwood floors and the very open and bright feeling into the living room and beyond. This home has many, many upgrades and features which include an added fireplace, recessed lighting, intercom system, beveled glass dual pane windows, french doors to family room, skylight, richly remodeled shower with built-in seat, self-cleaning oven, pull-down ladder to additional overhead storage. The patio is where one will want to begin and end each day. It is partially covered, with nicely tiled floors and a large built-in counter and built-in grill to really enjoy the lush green surroundings on the 10th green. This may well be the absolute best golf course location in Leisure Village.