My Interest Rate Crystal Ball

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January 27, 2016 by Jeff Lowen

Wouldn’t it be great to peer into my crystal ball and see exactly when the best time to Extreme_Crystal_Ball-1024x504buy a home or get a refinance… Or sell your home, too! Interest rates most definitely affect the buyers that are looking at your home! 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. Read on…

If you look at what the four major reporting agencies are predicting for 2016, it may make the decision for you. The chart below averages the predictions by quarter.

January2016-23-KCM

With the exception of Fannie Mae, the experts agree that interest rates will increase by three-quarters of a percentage point, costing you more to pay back your loan.

The moral of the story…

Even a small increase in interest rates can put a dent in your family’s wealth.

This is no crystal ball, but great insight into what interest rates are likely to be. No matter what, if you’re remotely thinking of buying or selling, getting a professional involved to interpret the market to meet your family’s’ unique situation is most important.

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