Tooele County Home Prices & Interest Rates
Do you think Tooele County home prices and mortgage rates are going up in 2016?
Do you have any idea what this will mean to you?
I posted this KCM graphic last week with some information I hoped would help motivate the fence sitters out there that are thinking of buying a home in Tooele Valley.
Wow !!! Did I ever hear from sellers. Folks thinking of selling a house or condo out here started calling, reminding me of a couple of things....
- Higher home prices diminish the number of people that can afford to buy their property.
- An increase in interest rates increases the monthly payment, once again creating fewer buyers.
Check out this info, and maybe even save it somewhere. It may explain what is going on in the Tooele real estate market.
Posted: 03 Dec 2015 04:00 AM PST
The monthly mortgage payment on a home is determined by two elements: the price of the house and the interest rate you pay on your mortgage. Recently released reports are revealing that the experts expect both elements to increase in 2016.
MORTGAGE INTEREST RATES
With both home values and interest rates projected to increase over the next twelve months, buying (or moving-up), sooner rather than later, makes sense.
Want to talk more about Tooele County prices and mortgage rates going up in 2016? Give me a call, Berna Sloan 435-840-5029.
first posted on tooelehomes4sale.com