How High will Interest Rates Go in Lancaster, PA ?

By
Real Estate Agent with KW Elite
http://activerain.com/droplet/59Md

 

 
 

Where Are Lancaster's Mortgage Interest Rates Headed in 2018?

Where Are Mortgage Interest Rates Headed in 2018? | MyKCM

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 over the course of the next 12 months.

Where Are Interest Rates Headed? | MyKCM

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, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line 

Even a small increase in interest rate can impact your family’s wealth. Let’s get together to evaluate your ability to purchase your dream home.

 Your first step is to obtain Mortgae Pre-Approval ! Email mikeperrykw@gmail.com to get started .
 
Posted by

 

Michael J. Perry

KELLER WILLIAMS Elite

www.lancaster4sale.com  

 

1280 Plaza Blvd. , Lancaster, PA 17601

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Longtime West Lampeter resident and Lancaster County Realtor!

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Topic:
Mortgage / Finance
Location:
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Groups:
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Buyer Information - What Buyers Need to Know in Today's Market
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Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I am not going to worry about it until we see 6 percent or so

Feb 10, 2018 11:14 AM #1
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Rates are definitely going up and we have been expecting this for quite a long time. Havea  good weekend, Michael.

Feb 10, 2018 08:10 PM #2
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Elyse Berman, PA
Best Connections Realty, Inc. - Boca Raton, FL
Pet-Friendly Realtor, CRS - (561) 716-782

Good advice Michael J. Perry .  Rates are definitely going up.

Feb 11, 2018 05:17 AM #3
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Michael J. Perry

Lancaster, PA Relo Specialist
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