Lapeer MI, Homes For Sale | Where Are Interest Rates Headed?
Team Success Listing LLC
At a local level in Lapeer Michigan, buyer confidence remains strong with some changes that varies on the price level and type of homes they are looking for.
Particularly in and around Lapeer 48446. The addition of new stores and business entities in the area makes Lapeer one of the most busiest areas in Lapeer County.
As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home.
Today we would like to talk to you about, Where Are Interest Rates Headed?
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily throughout 2019.
How Will This Impact Your Mortgage Payment?
Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly. But don’t let the prediction that rates will increase stop you from purchasing your dream home this year!
Let’s take a look at a historical view of interest rates over the last 45 years.
Bottom Line
Be thankful that you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.
Source … KCM Donald Horne Blog
To protect your interests and assure that you make the best possible decisions, it’s important that you have a knowledgeable agent on your side who is an expert in the local real estate market.
We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed and the most updated strategic view for your home purchase in Lapeer Michigan.
To reach us, please call / text 810-338-0628 or send us an email at teamsuccesslisting@gmail.com
Are you considering selling your home? If you are, we would love to meet with you soon to show you what comparable properties have recently sold for, give you an estimate of your home’s current market value and review with you our marketing program.
Donald Horne, Broker / Owner | Team Success Listing LLC
810-338-0628 | teamsuccesslisting@gmail.com
YouTube Channel | Instant Home Valuation
Free Guides For Buyers / Sellers
Website | Client Reviews