As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.

The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Reporthome prices will appreciate by 5.2% over the next 12 months.

What Does This Mean as a Buyer?

If home prices appreciate by 5.2% over the next twelve months as predicted by CoreLogic,here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today:

Bottom Line

If buying a home is in your plan for this year, doing it sooner rather than later could save you thousands of dollars over the terms of your loan.


How Much Has Your Home Increased in Value Over the Last Year?

If you are planning to list your home for sale in today’s market, let’s get together t...

Read More

CoreLogic Home Price Insights

Home Price Index (HPI) by CoreLogic, the most timely and comprehensive source of home pric...

Read More

I Am Ready to Buy a House... Now What?

I love working with first time buyers. Their enthusiasm for this new journey they are abou...

Read More