Wednesday, December 12, 2018 / by June Quilantang
A Forecast on Interest Rates for 2019
If you are planning to buy a house, knowing the interest rate at the time of your purchase will give you an idea on how much your monthly payment will look like. Keep in mind that even the slightest of change in the interest rate could significantly increase or decrease your mortgage depending on your loan amount.
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.

Reference: http://bit.ly/2RPNrao
www.NYREEX.com
