Mortgage Rates Remain At Historic Lows

Dated: 09/13/2016

Views: 208

The interest rate you pay on your home mortgage has a direct impact on your monthly payment; The higher the rate, the greater your payment will be. That is why it is important to look at where the experts believe rates are headed when deciding to buy now or wait until next year.

The 30-year fixed mortgage rate has fallen half a percentage point since the beginning of the year and has remained at or below 3.5% for the last 11 weeks according to Freddie Mac’s Primary Mortgage Market Survey.

The chart below shows how far rates have fallen this year (on the left), and uses an average of the projections from Freddie Mac, Fannie Mae, the Mortgage Bankers Association and National Association of Realtors (on the right). As you can see, interest rates are projected to increase steadily over the course of the next 12 months.

Interest Rates Remain at Historic Lows… But for How Long? | Simplifying The Market

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.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated 6.0% over the last year and are predicted to be 5.4% higher next year.

If both the predictions of home prices and interest rate increases become a reality, families will wind up paying considerably more for their next home.

Bottom Line

Even a small increase in interest rate can impact your family’s wealth. Let’s get together to evaluate your ability to purchase your dream home.


Call me today and let's discuss how I can help you save $1000s when you buy, invest, or sell rel estate. 

 Homes For Sale - Tatiana Torres -  Colorado Real Estate Broker 720-498-4414

Your local Real Estate Broker in Denver Metro and Suburbs. 


Real Estate Expert in StapletonLowryPark Hill and Cherry Creek areas. You now have free access to Exit Realty Cherry Creek Search Engine!


Blog author image

Tatiana Torres

Buying or selling a house can be an overwhelming and daunting process. Will my home sell? How much can I get for it? What can I afford to buy? All questions that need to be answered by a reliable and ....

Want to Advertise on this Site?

Latest Blog Posts

Affordable Housing Downtown Denver Union Station 2018

We all know buying a home in Colorado for the past few years has been getting tougher and tougher, but don't think you are out of the game just yet!  We are experienced agents who

Read More

EXIT Realty Bonfils Blood Drive

EXIT Realty Corp. International has a long standing tradition of giving back to the community.  EXIT agents are no different and many of us have various causes or charities that we

Read More

8 OneHour Projects That Can Make Your Home Look New Again

With today's busy schedules, it can be tough to find the time to take on lengthy home improvement projects. But you don’t have to dedicate your entire summer vacation to home maintenance to keep

Read More

Denver Newest Move In Ready Home

Welcome to the City of Denver, the State of Colorado's beautiful capital city situated at the base of the Rocky Mountains. Located on the western edge of the Great Plains, Denver is the largest city

Read More