The interest rate you pay on your home mortgage has a direct impact on your monthly payment.

 

Where Are Interest Rates Headed?
Where Are Interest Rates Headed?

 

The higher the interest rate, the greater the mortgage 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 over the course of the next 12 months.

 

Mortgage Rates Freddie Mac 30-year fixed.
Mortgage Rates Freddie Mac 30-year fixed.

 

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.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 5.2% higher next year.

 

5-Year Change in Price by Price Range

5-Year Change in Price by Price Range
May 2013 – May 2018

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.


Even a small increase in interest rate can impact your family’s wealth.

Contact a Help-U-Sell Real Estate Agent to evaluate your ability to purchase your dream home in West Hills, Woodland Hills, or any other Los Angeles, San Fernando Valley and Santa Clarita area real estate.

 


RELATED TOPICS

 

Interest Rates

The Cost of Waiting: Interest Rates Edition

The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.

Read More About Interest Rates


The Great News About Rising Home Prices

Recently there has been a lot of talk about home prices and if they are accelerating too quickly.

In some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.

The great news about rising prices, however, is that according to CoreLogic’s latest US Economic Outlook, the average American household gained over $15,000 in equity over the course of the last year, largely due to home value increases.

Read More About The Great News About Rising Home Prices


Starter Home Market

For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment.
It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!

Read More About Starter Home Market


Homeowners Equity

675,000 Homeowners Regained Equity in 2017. CoreLogic’s latest Equity Report revealed that “over the past 12 months, 675,000 borrowers moved into positive equity.“
This is great news, as the share of homeowners with negative equity (those who owe more than their home is worth), has dropped more than 20% since the peak in Q4 of 2009 (26%) to 4.9% today

Read More About Homeowners Equity


Home Prices Are Increasing

There are many unsubstantiated theories as to why home values are continuing to increase.
From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.

Read More About Home Prices Increasing


Search Homes For Sale in West Hills and Woodland Hills area

We also have a complete Multiple Listing Service (MLS) of residential houses for sale in Lake Balboa, Arleta, Northridge, Mission Hills, North Hills, North Hollywood, Panorama City, San Fernando, Sun Valley, Sylmar, Van Nuys, Castaic, Valencia, Canyon Country, Newhall, Stevenson Ranch, Santa Clarita,  or any other Los Angeles, San Fernando Valley or Santa Clarita Valley Real Estate.

 

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$1,149,000 - 4Br/3Ba -  for Sale in Woodland Hills
$1,149,000
Open House
New
MLS# SR19154836

21319 Providencia Street
Woodland Hills, CA 91364

Property Type: Single Family Residence
$659,500 - 3Br/2Ba -  for Sale in West Hills
$659,500
New
MLS# SR19160755

24154 Kittridge Street
West Hills, CA 91307

Property Type: Single Family Residence
$899,000 - 5Br/3Ba -  for Sale in West Hills
$899,000
New
MLS# SR19163758

23648 Sandalwood Street
West Hills, CA 91307

Property Type: Single Family Residence
$898,000 - 4Br/3Ba -  for Sale in West Hills
$898,000
Open House
New
MLS# SR19163932

7647 Quimby Avenue
West Hills, CA 91304

Property Type: Single Family Residence
$399,000 - 2Br/2Ba -  for Sale in Woodland Hills
$399,000
New
MLS# SR19164632

5515 Canoga Avenue Unit 224
Woodland Hills, CA 91367

Property Type: Condominium
$709,000 - 3Br/2Ba -  for Sale in Woodland Hills
$709,000
Open House
New
MLS# 19479492

22227 Avenue San Luis
Woodland Hills, CA 91364

Property Type: Single Family Residence
$995,000 - 5Br/4Ba -  for Sale in Woodland Hills
$995,000
Open House
New
MLS# 19486936

21855 Ulmus Drive
Woodland Hills, CA 91364

Property Type: Single Family Residence
$525,000 - 3Br/3Ba -  for Sale in West Hills
$525,000
New
MLS# SR19119086

22525 Sherman Way Unit 1202
West Hills, CA 91307

Property Type: Townhouse
$1,195,000 - 5Br/5Ba -  for Sale in West Hills
$1,195,000
New
MLS# SR19150889

7601 Graystone Drive
West Hills, CA 91304

Property Type: Single Family Residence
$649,900 - 3Br/2Ba -  for Sale in West Hills
$649,900
New
MLS# SR19162931

7545 Quimby Avenue
West Hills, CA 91307

Property Type: Single Family Residence
$2,190,000 - 5Br/5Ba -  for Sale in Woodland Hills
$2,190,000
Open House
New
MLS# SR19163250

5702 Lubao Avenue
Woodland Hills, CA 91367

Property Type: Single Family Residence
$989,000 - 4Br/3Ba -  for Sale in Not Applicable - 1007242, Woodland Hills
$989,000
Open House
New
MLS# 219008480

20906 Almazan Road
Woodland Hills, CA 91364

Property Type: Single Family Residence
$598,500 - 3Br/2Ba -  for Sale in Not Applicable - 1007242, West Hills
$598,500
Open House
New
MLS# 219008495

7918 Fallbrook Avenue
West Hills, CA 91304

Property Type: Single Family Residence
$415,000 - 2Br/2Ba -  for Sale in Woodland Hills
$415,000
Open House
New
MLS# SR19159079

5540 Owensmouth Avenue Unit 310
Woodland Hills, CA 91367

Property Type: Condominium
$759,900 - 3Br/2Ba -  for Sale in Woodland Hills
$759,900
Open House
New
MLS# SR19161559

6233 Kenwater Avenue
Woodland Hills, CA 91367

Property Type: Single Family Residence
$629,000 - 3Br/2Ba -  for Sale in West Hills
$629,000
New
MLS# SR19161672

22923 Covello Street
West Hills, CA 91307

Property Type: Single Family Residence
$745,000 - 3Br/2Ba -  for Sale in Woodland Hills
$745,000
New
MLS# SR19161839

6145 Lockhurst Drive
Woodland Hills, CA 91367

Property Type: Single Family Residence
$849,000 - 4Br/2Ba -  for Sale in Woodland Hills
$849,000
New
MLS# 19483826

23657 Oxnard Street
Woodland Hills, CA 91367

Property Type: Single Family Residence

 


Homes Sold in the West Hills and Woodland Hills area in the last 90 days

 

 


You’re paying how much to sell your home?

With the Help-U-Sell Real Estate company concept, you could save thousands of dollars when you sell your home.

Want to know more? Call us at 818-997-1000, or complete the form below to request more information.

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CONTINUE READING

Home Buyers Mistakes

Reasons to Buy a Home

Home Value Comparative Market Analysis

Buyer Demand Outpace Inventory of Homes For Sale

Lack of Listings Slowing Down the Market

 


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