stdClass Object ( [agents_bottom_line] => With interest rates still in the low 4%’s, 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 experts are predicting for 2015, it may make the decision for you.
Even an increase of half a percentage point can put a dent in your family’s net worth.
Let’s look at it this way…
The monthly payment (principal & interest only) on a $250,000 home today, with the current 4.1% interest rate would be $1,208. If we take that same home a year later, the Home Price Expectation Survey projects that prices will rise about 4% making that home cost $10,000 more at $260,000. If we take Freddie Mac’s rate projection of 4.8%, the monthly mortgage payment climbs to $1,364. Some buyers might not think that an extra $156 a month is that bad. But over the course of 30-year mortgage you have spent an additional $56,160 by waiting a year. [assets] => Array ( ) [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) ) [content_type] => blog [contents] => With interest rates still in the low 4%’s, 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 experts are predicting for 2015, it may make the decision for you.
Even an increase of half a percentage point can put a dent in your family’s net worth.
Let’s look at it this way…
The monthly payment (principal & interest only) on a $250,000 home today, with the current 4.1% interest rate would be $1,208. If we take that same home a year later, the Home Price Expectation Survey projects that prices will rise about 4% making that home cost $10,000 more at $260,000. If we take Freddie Mac’s rate projection of 4.8%, the monthly mortgage payment climbs to $1,364. Some buyers might not think that an extra $156 a month is that bad. But over the course of 30-year mortgage you have spent an additional $56,160 by waiting a year. [created_at] => 2014-09-15T06:00:30Z [description] => With interest rates still in the low 4%’s, 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 experts are predicting for 2015, it may make the decision for you. E... [expired_at] => [featured_image] => https:/// [id] => 129 [published_at] => 2014-09-15T10:00:30Z [related] => Array ( ) [slug] => how-interest-rates-impact-family-wealth [status] => published [tags] => Array ( ) [title] => How Interest Rates Impact Family Wealth [updated_at] => 2014-09-15T13:54:15Z [url] => /2014/09/15/how-interest-rates-impact-family-wealth/ )
How Interest Rates Impact Family Wealth
With interest rates still in the low 4%’s, 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 experts are predicting for 2015, it may make the decision for you.
E...