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2014-02-01 09:17:26
What Can You Expect?

The two most frequently quoted constants in life are death and taxes.  Two more things would-be homeowners can expect in the near future are increases in mortgage rates and housing prices.

Interest rates have been kept artificially low for several years by the Federal Reserve in an effort to strengthen the economy. Policy is shifting to allow them to seek their own natural level and that will surely result in higher mortgage rates.  Rates on 30 year fixed mortgages are up over 1% from January, 2013.

Foreclosure activity is down, new home starts are up and prices have been increasing in most markets for two years.  Most experts agree that the cost of housing is going up.

If the price were to go up by 2% and the mortgage rate by 1% while a buyer is “sitting on the fence” making a decision, the payment would go up by almost $175.00 each and every month for the term of the mortgage.  Even if a person can afford to make the higher payments, what could they have done with that extra $175.00 a month?  Buy furniture?  Car payment?  Principal reduction?  Retirement contribution?  Save for a rainy day?

Click here to determine what the cost of waiting to buy will be using your price home.

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Blog Archive
2014-02-03 08:51:39
Find a Better Return

2014-02-01 09:26:32
Why Borrowers Pay Different Rates

2014-02-01 09:23:51
Refinance to Remove a Person

2014-02-01 09:18:46
What Kind Of Showing Was It?

2014-02-01 09:17:26
What Can You Expect?

2014-02-01 09:15:56
Interviewing a Mover

2014-02-01 09:13:54
Personal Finance Review

2013-11-16 14:02:34
'Please Take Our Offer'

2013-11-16 13:51:09
Retirement Without a Mortgage

2013-11-16 13:49:42
If I'd Known

2013-11-16 13:37:54
Who's Paying Your Mortgage

2013-11-04 12:30:25
Breathe Easy

2013-11-04 12:27:14
Will the 'Good Life' Be Ready When You Are?

2013-11-04 12:24:31
What's It Worth?

2013-11-04 12:19:54
Renters Want to Buy

2013-11-04 12:18:44
Low Inventory = Multiple Offers

2013-11-04 12:15:17
Debt Relief = Income

2013-11-04 11:52:44
FHA & VA Assumption

2013-11-04 11:42:03
When Rates Go Up

2013-11-04 11:21:49
It Can't Hurt to Wait, Can It?

2013-11-04 11:19:00
Where Is It Invested?

2013-11-04 10:48:02
Real Estate 411

2013-11-04 10:46:22
All Dollars Not Equal

2013-10-21 13:47:26
Get Regular Check-ups

2013-10-21 13:43:53
A Home Is More Than an Address

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