Yes they will. When? I don't think anyone truly knows. However do you want to wait to find out? Below is an example of what Interest Rates Go UP?happens to your buying power if interest rates jump just 1%.

Say you are approved for $200,000 and the interest rate is 3.75%. Your approximate monthly mortgage payment would be $926.23 per month Principal and Interest.

If the interest rate jumped to 4.75% your payment would jump to $1042.29 P & I per month or to get the same payment of $926.23 your purchase price would drop to $178,000. That is a $22,000 reduction in your purchasing power.

Don't wait any longer. Buying a home is the best investment you will make. Think of it as a forced savings account that will give you a return when you sell as opposed to renting where you get ZERO when you leave the home.

Start your home search now CLICK HERE or contact us and we will customize a home search for you


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