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Cost to Wait On Buying a New Home | Hollyhock

21 June . 2018

If interest rates rise, what could it cost to wait to buy a new home?

Experts agree that mortgage interest rates will trend upward over the next year. Waiting to buy can make a significant difference in your monthly payment, and can add up to a huge amount over the life of a 30-year mortgage.

Buy a new home now, how much will it cost to wait Infographic

As our infographic shows, an interest rate rise of less than one percent can increase your monthly payment by enough to cover the cost of a new car. Over a year, the difference could be enough to make a significant dent in credit card debt. Over the life of a 30-year mortgage, the extra cost of a higher interest rate could amount to the equivalent of college tuition.

Our infographic is based on the latest average interest rate information and the average cost of a new home in Hollyhock. As interest rates fluctuate constantly, it’s meant to provide a general idea of the potential cost of waiting. For the latest and most specific information, please talk with your real estate agent or homebuilder sales consultant.

Find your new home at Hollyhock while interest rates are still near historic lows.