Mortgage Interest Rates to Jump 1-2% by End of 2014

By
Real Estate Agent with Keller Williams Realty-Wellington SL3071853

If you are on the fence about buying or selling your home, now is the time to do both! Mortgage interest rates have already risen by about half a percent since the new year and are only expected to increase over the next several months. So, what does this mean for you? This affects both buyers and sellers tremendously! As a buyer, this potentially lowers the budget limit you will have on a price of a home. You will have to determine what price you are able to afford, but then will have to take into account the amount of interest you will be charged each month and factor that into your monthly mortgage payment as well. If you buy now, you will be paying less in interest and therefore saving lots of money in the long run and will also be able to afford a higher priced home! Just remember, the higher the interest rate, the more it increases your monthly payment.

This also affects the sellers out there. As a seller, you are trying to market your home to a potential buyer. A rising interest rate affects the buyer for the above mentioned reasons which therefore means many people that might have been interested in purchasing your home, might get priced out if an interest rate makes their monthly payment too high. Get your home on the market now so you have a bigger pool of buyers to choose from!

The Ryan Jennings Group can assist you in both buying and selling. We work with a group of awesome lenders that will get buyers the lowest interest rates that are available and will work fast to get you pre-qualified so that you know how much you can afford to spend! This is a key step in the buying process. Getting pre-qualified before you look at any homes helps both you and your realtor find the home that best fits your needs. This way you know how much you can spend before you get your heart set on something that is out of your price range. To get started in your home search visit www.WestPalmHomeSearch.com

For questions, comments, or if you would like to buy and/or sell your home, please visit our website at www.WestPalmHomeSearch.com or visit our Facebook group at www.Facebook.com/WPBHomes4Sale

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Ambassador
1,622,599
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

Well let's see interest rates rising and prices rising a projected 18% this year.  Is there any better reason to BUY TODAY?

Jan 26, 2014 11:31 AM #1
Rainmaker
3,002,279
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Ryan - Thank you for sharing an excellent blog about mortgage interest rates to jump by end of 2014.

Jan 27, 2014 05:10 AM #2
Rainmaker
1,143,971
David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Not sure if I am a buyer on that prediction. Do I think they will rise, maybe. Do I think they will be 2% higher - NO WAY compadre, too much and a weak economy to handle that much if a bump

Jan 27, 2014 09:58 AM #3
Rainer
334,794
Jimmy Faulkner
Florida. Homes Realty & Mortgage - Wantagh, NY
The Best Of St. Augustine

Yes interest rates will inrease a lot this year and that is why it is best to get an offer in this year or sooner than later  Be prepared for price hikes  this yea

Jan 27, 2014 11:21 AM #4
Rainer
118,804
Kaye Swain
Keller Williams Real Estate Roseville CA - Roseville, CA
Your Roseville Real Estate Agent

Very good information. Thanks for sharing it. 

Jan 29, 2014 03:13 PM #5
Rainmaker
139,650
Ryan Jennings
Keller Williams Realty-Wellington - Wellington, FL
"Buy With Confidence...Sell With Trust"

Thanks Kaye!

Feb 03, 2014 01:22 AM #6
Rainer
215,603
Adam R. Cohn
STANDARD MORTGAGE CO. - Delray Beach, FL
We actually get mortgages closed FAST!

I disagree.  Rates will remain low or go lower.  lets see what happens :)

Jul 15, 2014 08:52 AM #7
Rainmaker
139,650
Ryan Jennings
Keller Williams Realty-Wellington - Wellington, FL
"Buy With Confidence...Sell With Trust"

Either way...now is the time to buy!  Not worth the risk in waiting...

Jul 18, 2014 12:24 AM #8
Rainmaker
125,900
Mary Ann Daniell Realtor
Coldwell Banker United, Realtors - Subsidiary of NRT LLC - Killeen, TX
Delivering Successful Results Since 1999

Now IS the time to buy if buyers are smart about how they buy.  But with elections coming up in 2016, I will be surprised to see a large increase in mortgage rates.  Politics unfortunately control a lot of our economy. 

Jul 19, 2014 04:01 AM #9
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