Mortgage Rates are On The Rise in 2017

Posted by Brad Officer on Tuesday, December 13th, 2016 at 10:26am.

Rising Mortgage Rates 2017

Time to make your move in 2017!

If there has ever been a time to capitalize on moving up, this is the time!  

That's right, make your MOVE UP in 2017 and benefit by both selling high and buying low.  How can that be?

  1. Selling High:  We have just finished several years of above average real estate appreciation.  In 2016, Jacksonville realized an 8%+ annual appreciation!  Your house is most likely worth more than you think.  Will this trend continue?  No one knows for sure.  There certainly appears to be a rise in overall consumer sentiment, and our local Jacksonville economy is growing so signs are pointing to positive.  
  2. Buying Low:  Rates are historically low, which gives you increased buying power.  That's right, you'll be able to buy a higher priced home and your overall interest rate is near historically low rates.  

The cost of waiting:

  1. Mortgage Rates WILL Rise!  It's an almost guaranteed outcome.  The Fed has held rates at or near zero for years to help inspire economic growth (which didn't work too well), but the pressure is on the Fed to raise rates.  Remember, the Fed funding rate also dictates how much interest we make when we save money.  If you deposit a million bucks, you typically want a return from the bank.. and returns have been near dismal for years.  
  2. Home Prices Continue to Rise!  When looking at the long term, even factoring in the "bust" years when some of us lost 40-50% of our home's equity, home prices still continue to appreciate historically.  If we see a year of 5% appreciation, and you wait to purchase your $500k house, you'll be paying $525,000 in a year.  

Don't wait another year to make the move up.  2017 is your year!  

If you'd like to connect about putting together a plan to maximize the sell price of your existing home and buying your next home, we are here to help!  Hit Brad up and let him know you'd like to talk strategy!  Email:  Brad@OfficerGroup.com or Text: 904-234-5196.

Cheers!

Thank you in advance for Sharing!

 

Give us a call at 904-234-5196 if we can help you buy or sell real estate in Jacksonville, FL.

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Listing information last updated on July 18th, 2019 at 3:08pm EDT.