Interest Rate Increases – Do You Know How They Will Affect You?

Interest rates are pretty much still at their all-time lows. Today, money is cheap! But, they won’t remain this low forever, that’s for sure. This year, they’ll slowly begin creeping upward.

If you are looking to buy and are sitting on the sidelines wondering if you should wait or go for it – it’s probably a good time to at least begin looking. Finding the right house can sometimes take between 3-6 months and you don’t want to lose purchasing power as rates go up.

Take a look at this graph that illustrates the topic.

So, you could wait, but it’s still going to be a bitter pill to swallow when you end up with a 6.5% interest rate and you neighbor has a 4.5%

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