Not Your Mama Or Papas Interest Rates

Dated: 03/28/2018

Views: 393


Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate!

Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate! | MyKCM

Interest rates hovered around 4% for the majority of 2017, which gave many buyers relief from rising home prices and helped with affordability. In the first quarter of 2018, rates have increased from 3.95% up to 4.45% and experts predict that rates will increase even more by the end of the year.

The rate you secure greatly impacts your monthly mortgage payment and the amount you will ultimately pay for your home. Don’t let the prediction that rates will increase stop you from purchasing your dream home this year.

Let’s take a look at a historical view of interest rates over the last 45 years.

 

Be Thankful You Don’t Have to Pay Your Parents’ Interest Rate! | MyKCM

Bottom Line

Be thankful that you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.

Blog author image

Michael Le

Michael has been a Real Estate Broker in the Denver area for 17 years. With over hundreds of closed transactions under his belt he is a wealth of knowledge. Michael is skilled at contract negotiatio....

Latest Blog Posts

Why Is So Much Paperwork Required To Get A Mortgage

When buying a home today, why is there so much paperwork mandated by the lenders for a mortgage loan application? It seems like they need to know everything about you. Furthermore, it

Read More

4 Most Popular Bottom Line Investments In America

Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks, gold, and savings.

Read More

Are Older Generations Really Not Selling Their Homes

Many studies suggest one of the main reasons for the inventory shortage in today’s market of homes for sale is that older generations have chosen to “age in place” over

Read More

Make Your Money Work For You

According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $3,143 this year when filing their taxes. This is down

Read More