Prices & Mortgage Rates Going Up in 2016

    Prices & Mortgage Rates Going Up in 2016 | Simplifying The Market

    The monthly mortgage payment on a home is determined by two elements: the price of the house and the interest rate you pay on your mortgage. Recently released reports are revealing that the experts expect both elements to increase in 2016.

    HOME PRICES

    CoreLogic has projected a nationwide 5.2% home value appreciation for the next twelve months. Here is their breakdown by state:

    Forecasted Prices | Simplifying The Market

    MORTGAGE INTEREST RATES

    All four of the entities that provide projections on mortgage interest rates agree: they’re going up in 2016. Here are the predictions over the next four quarters:

    Interest Rates | Simplifying The Market

    Bottom Line

    With both home values and interest rates projected to increase over the next twelve months, buying (or moving-up), sooner rather than later, makes sense.

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