Ventura County-Where Are Interest Rates Headed This Year?

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Real Estate Agent with Allison James Elite CA. BRE 01501699

Chris B Johnson, REALTOR® Neighborhood Market Report  Mortgage Pre Approval  Time To Buy A Home

Where Are Interest Rates Headed This Year? | Simplifying The Market

Where Are Interest Rates Headed This Year?

With interest rates still below 4%, many buyers may be on the fence as to whether to act now and purchase a new home, or wait until next year.

If you look at what the four major reporting agencies are predicting for 2016, it may make the decision for you. The chart below averages the predictions by quarter.

 

Where Are Interest Rates Headed This Year? | Simplifying The Market

With the exception of Fannie Mae, the experts agree that interest rates will increase by three-quarters of a percentage point, costing you more to pay back your loan.

Bottom Line

Even a small increase in interest rates can put a dent in your family’s wealth.

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