{"id":2022,"date":"2017-12-13T11:00:34","date_gmt":"2017-12-13T11:00:34","guid":{"rendered":"https:\/\/thezakariagroup.com\/what-is-the-cost-of-waiting-until-next-year-to-buy\/"},"modified":"2017-12-13T11:00:34","modified_gmt":"2017-12-13T11:00:34","slug":"what-is-the-cost-of-waiting-until-next-year-to-buy","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/what-is-the-cost-of-waiting-until-next-year-to-buy\/","title":{"rendered":"What is the Cost of Waiting Until Next Year to Buy?"},"content":{"rendered":"
\n

\"What<\/p>\n

We recently<\/a> shared that over the course of the last 12 months, home prices have appreciated by 7.0%. Over the same amount of time, interest rates have remained historically low which has allowed many buyers to enter the market.<\/span><\/p>\n

As a seller, you will likely be most concerned about \u2018short-term price\u2019<\/em> \u2013 where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the \u2018long-term cost\u2019<\/em> of the home.<\/p>\n

The Mortgage Bankers Association<\/em> (MBA), Freddie Mac, <\/em>and Fannie Mae<\/em> all project that mortgage interest rates will increase by this time next year. According to CoreLogic\u2019s<\/em> most recent Home Price Index Report<\/em>, home prices will appreciate by 4.7% over the next 12 months.<\/p>\n

What Does This Mean as a Buyer?<\/strong><\/h4>\n

If home prices appreciate by 4.7% over the next twelve months as predicted by CoreLogic<\/em>, here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today:<\/p>\n

\"What<\/a><\/p>\n

Bottom Line<\/strong><\/h3>\n

If buying a home is in your plan for 2018, doing it sooner rather than later could save you thousands of dollars over the terms of your loan.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

We recently shared that over the course of the last 12 months, home prices have appreciated by 7.0%. Over the same amount of time, interest rates have remained historically low which has allowed many buyers to enter the market. As a seller, you will likely be most concerned about \u2018short-term price\u2019 \u2013 where home values […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,100,104,101,108],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nWhat is the Cost of Waiting Until Next Year to Buy? - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/what-is-the-cost-of-waiting-until-next-year-to-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is the Cost of Waiting Until Next Year to Buy? - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"We recently shared that over the course of the last 12 months, home prices have appreciated by 7.0%. 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