21 July 2014

Interest Rates Increase Tooele House Payments

I'm pretty sure that interest rates will increase Tooele house payments this year. The cost of owning Tooele Real Estate is going up.

The combination of higher interest rates and proposed price increases are about to make the monthly payment on that house you are looking at to increase......... A lot!

In an article entitled "buying a home, the cost of waiting" it is suggested that next year the Tooele house that costs $250,000 today (and a $1218.17 P & I payment) will cost an additional $1752.00 per year........ I agree!

What could you do with an extra $146.00 per month?

Don't just take my word for it. Take a look at what others think about the effect interest rates will have on your home purchase next year.

The Impact of Rising Interest Rates on Housing Affordability | Eye On ...

Since the beginning of the year, mortgage rates have risen by about 1 percentage point and are now at a level last seen in August 2011. The rapid rise in mortgage interest rates could affect housing affordability through higher ...

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Borrowers warned of home-loans squeeze as interest rates rise | UK ...

HOMEBUYERS face a further mortgage crackdown as risk-averse lenders brace themselves for interest rate rises, the Bank of England warned yesterday.

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A third of homeowners fear interest rate rise will put them in ...

The research found that 34% of people were worried that a rise in interest rates would mean they faced a tougher struggle to afford payments on their mortgage or other bank loans and debts, equating to 5.8 million ...

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Mortgage Interest Rates Control Home Affordability | Tallahassee ...

Recently, mortgage interest rates hit a new low for 2014, meaning buyers can get “more home” without increasing their desired monthly payment. I believe the fact that there are so many websites that offer current mortgage ...

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3 Ways Rising Interest Rates Change the Game - Wall St. Cheat Sheet

Most houses are purchased using debt: Buyers put a small amount of money down and they then take out a mortgage to pay for the rest. As interest rates rise, mortgage payments on new and adjustable loans will increase.

Read more ...

Don't wait!

If you don't start looking today interest rates will increase your Tooele house payments. Or, and this may be worse, what you can qualify for will be reduced and the selection of homes available will not be as good. Take a look at homes for sale in Tooele between $ 200,000 & $250,000 to see the difference in what you can buy for your dollar.

Need help? Call me, Berna Sloan 435-840-5029

 

 

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