The Cost of Waiting: Interest Rates Edition

My favorite topic!  The cost of your mortgage payment as interest rates go up if you are not locked into a mortgage now at the current low rates.  We have no idea what will happen in the Southwest Florida real estate market over the next year, but the experts generally agree that interest rates will go up.  So, if our prices go up, and the interest rates go up the cost of your dream home is going to increase each month.  Why wait?  Prices are low and interest rates are low, NOW is the time to get that home you are waiting for!

Courtesy of Keeping Current Matters 2018

The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Interest rates are projected to increase steadily heading into 2019.
  • The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be.
  • Rates are still low right now – don’t wait until they hit 5% to start searching for your dream home!

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