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    WHERE ARE MORTGAGE INTEREST RATES HEADED IN 2018…?

    The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.  Above is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook.  As you can see, interest rates are projected to increase steadily over the course of the next 12 months.

    How Will This Impact Your Mortgage Payment?

    Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

    According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.

    If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

    Bottom Line 

    Even a small increase in interest rate can impact your family’s wealth. Let’s get together to evaluate your ability to purchase your dream home.

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    Lori Loesch

    Lori Loesch is our creative and joyful longtime Nashville resident. She has had a fascinating career that includes sales management, real estate, marketing, design and publishing. Lori is detail oriented and enjoys challenges and learning new skills. As a people person, she thrives on encouraging and helping others. Lori never meets a stranger and that is a wonderful skill to have in the real estate market. Lori joined The Milam Group in 2017 as the Marketing/Listing Coordinator. Her ability to design artwork, develop and implement marketing strategies, along with her curious spirit in the ever-changing world of social media, gives her an edge to make her the best Marketing Coordinator on the planet. “I enjoy going to work...not everyone can say that. Working at The Milam Group lets me be creative every day…and I love it!!! In the process, I get to help people and develop wonderful lasting relationships while working with an outstanding team of real estate professionals. I am truly blessed.” Lori was born in the Midwest, but spent her formative years in Florida. She and her musician husband, Joe have lived in Nashville for over 25 years. In her spare time, you will find Lori spending time with her family, working outside and involved with activities at her church. She is an accomplished inspirational artist and her artwork can be seen at LoriLoeschArt.com.

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