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Where Are Interest Rates Headed in 2019?

Where Are Interest Rates Headed in 2019? | MyKCM

The interest rate you pay on your home mortgage in Novi, Northville or South Lyon, Michigan has a direct impact on your monthly payment. The higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.

Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily throughout 2019.

Where Are Interest Rates Headed in 2019? | MyKCM

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly. But 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.

Where Are Interest Rates Headed in 2019? | 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.

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Jeff Duneske

With over 23 years of experience in the real estate industry, Jeff Duneske, Broker/Owner of Duneske Real Estate Advisors at Keller Williams Advantage, has established himself as a leading expert. With a career volume of over $325 million and over 1,200 properties sold, Jeff has built a reputation for excellence, earning the trust of over 1,000 clients. Born and raised in Novi, Michigan, Jeff earned the distinguished rank of Eagle Scout at just 15 years old. After graduating from Novi High School in 1996 and the Oakland Fire Academy, Jeff initially set out to become a full-time firefighter. However, after serving as an auxiliary firefighter and EMT in Novi and Walled Lake for several years without securing a full-time position, Jeff decided to shift gears and begin his real estate career in 2000. Jeff has consistently demonstrated his drive to achieve his goals throughout his career without compromising his morals, standards, or ethics for anyone or any transaction. He has served on the Professional Standards Committee for ten years and is committed to conducting business with the highest morals, ethics, and standards. Jeff's unwavering commitment to ethical and moral standards has led to a successful real estate career. Still, more importantly, it has enriched his life and the lives of others in immeasurable ways. With a steadfast purpose to lead with honor and great promise, Jeff continues to guide his clients through one of life's most significant financial transactions, helping them achieve their American Dream. If you're looking for a real estate professional who will go above and beyond to help you achieve your goals, look no further than Jeff Duneske. Contact him today to schedule a consultation and let him guide you through buying or selling your home.

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