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Aug 14

House Punting: The Cost of Waiting to Buy

What would a higher interest rate actually mean for your purchase of a new home?
To put a price tag on the potential cost of waiting to buy a home Zillow assumed that the rate on a 30-year fixed-rate mortgage would rise 1 percentage point, and then calculated how that higher rate — which would be about 5.1 percent — would affect a buyer’s monthly mortgage payments.
Zillow’s calculations of the potential costs of waiting a year to buy a home: Seattle: $299 a month
Click here to read more from Bloomberg News .

 

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