Rates: Where we’ve been, Where we are now, Where we’re heading, and what you can do to get lower rate – Conventional

Published 4 months ago

Check out an analysis showing where we were a year ago, where we are today, and where we're projected to be a year from now.

I'm using a 740 FICO score, Primary Residence, Purchase loan in this example with 5% down. For year over year price appreciation I'm using 10% with the 'year ago' price of $500k.

What you'll see is that historically, affordability is still high, even with the recent bump upward in interest rates.

You'll also see that the monetary policy strategy that is known right now calls for additional rate increases as well as quantitative easing - both of which can combine to put us on an increasing rate trajectory. Rather than just leave you with bad news, I go into a way to get a rate that's a half point lower than a current 30 year fixed rate and take a deeper dive on some of that with the other attachments on this webpage.

Everybody's situation is unique but I love going back to history and doing some forecasting to give folks who are currently in the market some perspective on why now is still a great time to purchase a home and at the same time what the cost of waiting could potentially look like if you wait.

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