The table below makes an incredibly important point. Basically, “the early bird gets the worm”.
In the real estate business, we sometimes use the term “cost of waiting” to describe the loss of opportunity or the higher cost that a buyer might suffer after hesitating to buy. What might the cost of waiting be if you waited to buy just one year from now?
Please note, below you’ll see how we’ve sourced the data for our estimates.
- The latest Freddie Mac Primary Mortgage Market Survey reports the 30-year fixed rate at 3.7%.
- Freddie Mac’s projection for Q2 2016 is that the rate will be 4.7% (a full percentage point higher)
- The Home Price Expectation Survey predicts that home prices will appreciate by 4.4% during this same time
The impact waiting a year to purchase your dream home can make on your monthly payment is significant. Contact a us today to discuss your options before the experts’ predictions become reality! 888-333-0075
