Money Monday...Concerned About Rising Interest Rates?


A few things to consider:


  • Rates are still historically low. The chart below from Freddie Mac shows the average 30 year interest rate was 6.04% as recently as November 20, 2008! 

  • Rates have not averaged below 6% the past four decades!  (please see Freddie Mac Chart from KCM below)

  • The amount of money borrowed, property taxes, and HOA typically have a much greater impact to monthly payment than a slight increase in mortgage interest.




$300,000 mortgage loan amount

30-year fixed mortgage


4.625% interest rate  -  $1,542 (monthly principal and interest payment)

5.000% interest rate  -  $1,610 (monthly principal and interest payment)


Payment Difference:  only $68 a month

  • The purchase market is healthy!  According to Tina Tamboer of the Cromford Report, prices are projected to continue to rise over the next 3 – 6 months. 

  • The Cromford Report also notes that buyers typically have the most “buying power” in the 4th quarter of the year.

  • Positive economic news continues to make headlines, including:


The Job Market, Consumer Confidence and Economic Outlook:


-          Job market:   NBC News on the Economy 


-          Consumer Confidence:  CNBC


-          Economic Outlook:  Washington Examiner


Freddie Mac Interest Rate Chart:





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