Buy Now or Wait? The Importance of Mortgage Interest Rate Projections

Today’s home buyers have a phenomenal opportunity to maximize their value in the Evanston real estate market.

But should they buy now, or wait a while? Consider the costs of waiting, as explained in the attached charts. Where do a wide variety of experts think 30 year fixed mortgage interest rates are headed? See the attached charts.

As home prices continue to rise at moderate rates, and as interest rates rise to levels projected for one year from now, the costs of buying rise as well.

The bottom line: Buyers who wait too long to start their search process may miss a once-in-a-generation opportunity to buy the most home possible.