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Wednesday, March 22, 2017

Mortgage Rate Impact

What Are the Experts Saying about Mortgage Rates? It looks like the consensus is rates are on the rise. It also seems to be pretty much assumed that rate increase will have minimal impact on housing given the pent up demand and the millennial move. BUT - small word, big letters - that does not change the fact that either you will need more money down - or accept higher monthly payments - or you buy less house to compensate. It's about the bang for the buck and right now, the bang is bigger than when prices and rates move up. Now, if you are already a home owner and are thinking about selling but waiting for prices to rise - so do the prices on the homes you want to buy AND the longer the delay, the chances are the higher the interest rate. This is really THE time to move on it if you are planning to move! For more information, have a look at today's article