Rates are low, but prices continue to rise…
As a seller, you will be most concerned with the ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not with price but instead with the ‘long term cost’ of the home. Many economists have pointed to Brexit (Britain’s exit from the European Union) as a reason that interest rates will remain low for the next few months. But Trulia’s Chief Economist Ralph McLaughlin warns that this will not always be the case in a recent post:
“While the departure of the UK from the European Union has driven down the 10-year bond, and thus mortgage rates, we expect them to rebound later in the year as uncertainty over the economic consequences of the departure lifts.”
The Mortgage Bankers Association (MBA), the National Association of Realtors (NAR) and Freddie Mac all project that mortgage interest rates will increase by close to a full percentage point over the next twelve months. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.3% over the next 12 months.
What Does This Mean as a Buyer?
Here is a simple demonstration of what impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 today if home prices appreciate by the 5.3% predicted by CoreLogic over the next twelve months:
Buying a home is now easier than it has been in years.
Call us to get on a path to mortgage and credit qualification that will quickly lead to your new home.
Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.”
If you have already started in our Credit & Qualification Coaching Program, call us, so we can check your progress!
The KEYS to your new home are within reach!
This exercise strengthens the bulbocavernosus muscle, which, in men, is responsible for allowing the penis to djpaulkom.tv cialis lowest prices erect. I have eye exercises I show my patients cheapest levitra in order to rehabilitate the parietal lobe. Only 43% of women reported bleeding when they first had sexual order viagra from india intercourse. By far the most prevalent share purchasing viagra in canada is 7 days.
Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!
Click Here to start your quick Free Credit Analysis & Loan App Now!
J. SCOTT HARRIS | VICE PRESIDENT & BRANCH MANAGER
& MORTGAGE MIRACLE WORKER
NMLS # 375517 | (M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com | www.goldfinancial.com | Apply Now
LinkedIn | Facebook | Twitter | JSH BLOG – News & Articles
885 E Collins Blvd Ste 110
Richardson, TX 75081
Closing FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana
Gold Financial Services, Inc. is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender