Buying A Home Do You Know The Difference Between Cost Price

Buying A Home Do You Know The Difference Between Cost Price

Buying A Home? Do You Know The Difference Between Cost & Price?

by  on December 14, 2015 in First Time Homebuyers, For Buyers, Interest Rates,Pricing

Buying A Home? Do You Know The Difference Between Cost & Price? | Keeping Current Matters

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

The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates will increase by about three-quarters of a percentage point over the next twelve months.

According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months.

What Does This Mean as a Buyer?

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

Cost of Waiting | Keeping Current Matters


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Phone: 931-561-1103
Dated: December 23rd 2015
Views: 225
About Kriste: I am a licensed Real Estate Agent in TN, and KY with Reliant Realty ERA Powered. I have over 18 yea...

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