Not Your Mama Or Papas Interest Rates

Dated: 03/28/2018

Views: 370


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

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

4 Proven Ways Real Estate Can Build Sizable Family Wealth

Recently, David Greene, co-host of the BiggerPockets podcast and a nationally renowned author and speaker, wrote an article in Forbes explaining how investing in real estate

Read More

Rethink Selling On Your Own

Think You Should For Sale By Owner? Think Again! Some Highlights: For Sale By Owner (FSBO) is the process of selling real estate without the representation of a real estate broker or

Read More