03 May . 2018
With interest rates expected to rise in 2018, what will it cost to wait to buy a new home?
After hovering around historic lows for many years, mortgage interest rates have slowly started to rise, and it’s a trend that’s expected to accelerate into 2019.
As our infographic shows, an interest rate increase of just one point can make a significant difference in your monthly payment. Each month, the increase could amount to as much as a car payment. In a year, the difference could have been used to pay off high-interest debt. And over the life of a traditional 30-year mortgage, the total cost of an extra one percent can rival the cost of college tuition.
Our infographic is based on the latest average interest rate information and the average cost of a new home in Sweetwater. As interest rates fluctuate constantly, it’s meant to provide a general idea of the potential cost of waiting. For the latest and most specific information, please talk with your real estate agent or homebuilder sales consultant.
The good news? Sweetwater has new homes ready for quick move-in in every price range. Find your new home using our convenient Homefinder.