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      Prices and Mortgage Rates Going up in 2016

      Prices and Mortgage Rates Going Up in 2016 | Keeping Current Matters

      The monthly mortgage payment on a home is determined by two elements: the price of the house and the interest rate you pay on your mortgage. Recently released reports are revealing that the experts expect both elements to increase in 2016.

      HOME PRICES

      CoreLogic has projected a nationwide 5.2% home value appreciation for the next twelve months. Here is their breakdown by state:

      Pricing Forecast | Keeping Current Matters

      MORTGAGE INTEREST RATES

      All four of the entities that provide projections on mortgage interest rates agree: they're going up in 2016. Here are the predictions over the next four quarters:

      Interest Rates | Keeping Current Matters

      Bottom Line

      With both home values and interest rates projected to increase over the next twelve months, buying (or moving-up), sooner rather than later, makes sense.

       

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