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.
*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!
- 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]