DON’T WAIT! MOVE UP TO THE HOME YOU
ALWAYS WANTED
Now that the housing market has stabilized, more and more homeowners are considering
moving up to the home they have always dreamed of. Prices are still below those of a few
years ago and interest rates are still below 4%.
Sellers should realize that waiting to make the move while mortgage rates are increasing
probably doesn’t make sense. As rates increase, the price of the house you can afford will
decrease if you plan to stay within a certain budget for your monthly housing costs.
The chart on the right
details this point.
With each quarter of a
percent increase in
interest rate, the value
of the home you can
afford decreases by
2.5%, (in this example,
$10,000). Experts
predict that mortgage
rates will be closer to
5% by this time next
year.
Act now to get the
most house for your
hard-earned money.
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