Interest Rates Over Time - Infographic
It's no secret that interest rates are fantastic for buyers right now. For many of us, this represents a lifetime low rate. The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year or $7,200 over the life of your loan. Maybe it’s time to lock in now while rates are still low.
If you are thinking of selling, low interest rates mean you have an enviable pack of available, willing, and qualified buyers to pick amongst, at a time when market prices have never been higher. It truly is a win-win market right now!
That this is an election year, is on everyone's mind. If you are thinking of listing your home for sale or buying, you are likely to be very interested in forecasts of how this might impact interest rates. There's some variable history over time, but at present, experts believe the Fed will leave the interest rates alone through the election later this year.
Give us a call at Dupuis Team Real Estate, no matter your housing needs or financial position - we have a plan in place to help YOU!