The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

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Real Estate Agent with www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209

The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

 

While Freddie Mac predicts housing prices will remain in-line with recent trends, interest rates have been in a bit of a downward trend. The weekly average 30-year fixed mortgage rate was 3.82% in June, the lowest since September, 2017. 

 

The cost of waiting to get a mortgage

*Graphic and topic inspiration provided by Keeping Current Matters (KCM)

 

However, during the second half of the year, trade tensions and the waning effects of last year’s fiscal stimulus will likely cause downward pressure on growth and a steady increase in interest rates as we head into Q1, 2020.

 

With the lower interest rates and less competition in the market for a home during the summer months, now is a great time to buy! 

 

BOTTOM LINE:

 

  • Interest rates are projected to increase steadily heading into 2020.
  • The higher your interest rate, the more money you will end up paying for your home and the higher your monthly payment will be.
  • Rates are still low right now – don’t wait until they hit 5% to start searching for your dream home!

 

If you’re looking for a home in the Charlotte Metro, let’s talk! Call or text (704) 491-3310.

 

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

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Rainmaker
3,205,484
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Debe,  I remember one of my loans in 1981 was 16.5% so what a deal we have now.  You are right now is the time to buy!

 

Jul 19, 2019 09:43 AM #1
Rainmaker
2,584,578
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

This is what I always remind buyers of when they are talking about waiting for prices to go down.  Even if the prices go down and the interest rates go up, they ultimately end up paying more for a home or price themselves out of the market for homes that they would qualify to buy.

Jul 19, 2019 10:14 AM #2
Rainmaker
5,428,205
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Smart consumers are anxious to take advantage of the very attractive mortgage interest rates.

Jul 19, 2019 10:21 AM #3
Rainmaker
1,237,456
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Debe Maxwell, CRS

Buyers need to keep interest rates in mind when purchasing a home. 

Jul 19, 2019 12:51 PM #4
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Debe great job on the infografic.  It is simple but really drives the point home.

Jul 19, 2019 02:12 PM #5
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

You're right, Will Hamm - those who never lived through those high interest rate days have no idea how good they have it, do they?!

Jul 20, 2019 07:34 PM #6
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

You're so right, Brian England! I think we'll see some price-correction soon and if interest rates stay where they are, it's going to be a really good time to buy!

Jul 20, 2019 07:36 PM #7
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Yes, they are, Roy Kelley! Buyers now are super excited to see how low their interest rates are - especially those who were pre-approved a couple of months ago.

Jul 20, 2019 07:38 PM #8
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Indeed they do, Sheri Sperry - MCNE®!

I hope you're having a fantastic weekend...and working with some buyers who are taking advantage of these great rates!

Jul 20, 2019 07:39 PM #9
Ambassador
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

KCM does a great job on their infographics, George Souto - you know I'm all about the visuals! 

Happy Saturday!

Jul 20, 2019 07:39 PM #10
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