With interest rates still below 4%, many buyers may be on the fence as to whether to act now and purchase a new home, or wait until next year.
Below you can see what the four major reporting agencies are predicting for 2016; it may help make the decision for you. The chart below averages the predictions by quarter.
With the exception of Fannie Mae, the experts agree that interest rates will increase by three-quarters of a percentage point, costing you significantly more to pay back your loan.
Even a small increase in interest rates can put a dent in your family’s wealth. Based on the projections of where interest rates are headed, the sooner you buy a home the better. Waiting could cause you to wind up paying considerably more for your next home.
Contact The Lowry Team today to evaluate your ability to buy your dream home. Call or text 513-368-3751