The Cost of Waiting

Are you thinking of buying a home but not sure if you should make the jump now or wait? Why wait? The cost of waiting may not be worth it! Today’s interest rates are still at historic lows, but they are on the rise! With home values still edging up, it could make more sense to purchase your home today.

Let’s look at an example: buying a $350,000 home today using Conventional financing and 5% down can save you over $2,100 a year instead of waiting while interest rates and values go up, and over 30 years that adds up to $63,000 in savings! Many industry forecasts are predicting rates to continue to rise, but in the unlikely chance that we see a dip in interest rates, with values increasing, you could still save $1,800 a year by buying today. Click on the image to the left of this article to see the full details of these examples.

Rising rates can have a direct effect on potential homeowners considering all of these questions: which home to buy, when to buy the home, and how much home can I afford. Those decisions are impacted by interest rates; the higher the interest rate, the higher the monthly payment will be to purchase a home. My goal is to help you stay informed of changes and trends in the industry and help find the right mortgage solution and right time to purchase or refinance your home. I encourage you to reach out If you’d like some additional information, or want to see a rate and payment comparison specific to you.


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.