The Cost Across Time!
With interest rates around 3.66%, now is a great time to look back at where they have been over the past few decades. Comparatively, they are pretty low!
According to Freddie Mac, rates are projected to increase to 3.9% by this time next year.
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 and $7,200 over the life of your loan.
Maybe it is time to lock in now, while rates are still historically low.
Let’s get together and see what the current real estate market and interest rates would mean for you if you buy or sell now!