Interest rate projections from Freddie Mac show an upward trend as we head further into 2018, predicted to increase by a ½ percentage point. While this may not seem like a big jump, this ½ percentage point can make a big difference in your monthly mortgage payment. The below chart highlights mortgage rate fluctuations over the last 3 years, demonstrating the predicted increase on the horizon.
Thinking about purchasing a home this year? Check out our mortgage calculator to help you determine the amount you may be able afford to spend on a home, as well as your estimated monthly mortgage payment.