{"id":956,"date":"2009-12-24T09:23:37","date_gmt":"2009-12-24T17:23:37","guid":{"rendered":"https:\/\/louisvillehomesblog.com\/?p=956"},"modified":"2023-09-05T17:51:48","modified_gmt":"2023-09-05T17:51:48","slug":"louisville-mortgage-rates-expected-to-rise-in-2010","status":"publish","type":"post","link":"https:\/\/trepryor.com\/blog\/louisville-mortgage-rates-expected-to-rise-in-2010\/","title":{"rendered":"Louisville Mortgage Rates Expected to Rise in 2010"},"content":{"rendered":"\n

All good things must come to an end. That’s how the saying goes anyway. Today this concept applies to our 40-year, low mortgage interest rates. I’ve published this chart before, but it bears a repeat visit.<\/p>\n\n\n\n

\"Historical
Since 1974, interest rates have not been lower than they were in 2009.<\/figcaption><\/figure>\n\n\n\n\n\n\n\n

Many experts<\/a> believe that rates will rise in 2010. America’s #1 Mortgage Broker posted about this on ActiveRain just this week. He believes rates will rise to 6% by March<\/strong><\/a>. Here is his reasoning:<\/p>\n\n\n\n

\n

Mortgage rates have been steadily climbing, from a low of 4.5% around November 27, 2009 to above 5% on December 22, 2009. For the past two months I’ve been warning that this will eventually happen. It’s not because the economy is recovering; it isn’t recovering. The reason mortgage rates will rise to 6% or above, soomer rather than later is because that is the “natural” market.<\/p>\n<\/blockquote>\n\n\n\n

What does this mean to you? Well, maybe nothing but then again, maybe everything. If you refinanced your Louisville home since rates have been down under 5%, you’re a winner! If not, I recommend that you speak with your loan specialist as soon as possible.<\/p>\n\n\n\n

If you’re considering a move, there’s no time like the present. Here’s an example from a standard mortgage calculator<\/a>:<\/p>\n\n\n\n

\n

Just as an example, let’s say you are borrowing $180,000.00 for 30 years with an interest rate of 5.000%. If the value of your home is $200,000.00, your property taxes $3,000.00 per year and your insurance is $1,500.00 per year, you can expect to be making a total payment of $1,416.28<\/strong>. This is because you need to pay $966.28 toward the actual loan, plus $250.00 for real estate taxes and $125.00 toward insurance.<\/p>\n<\/blockquote>\n\n\n\n

Now up the interest rate to 6% and see what it looks like. The payment jumps to $1,529.19<\/strong> which translates to an extra $40,647.6<\/strong>0 in interest payments over the life of the loan. That’s not pocket change.<\/p>\n\n\n\n

If you’re looking for a Louisville Realtor\u00ae<\/a>, I’d love to work with you. Drop me a line.<\/a><\/p>\n\n\n\n

Have a Merry Christmas!<\/p>\n","protected":false},"excerpt":{"rendered":"

All good things must come to an end. That’s how the saying goes anyway. Today this concept applies to our 40-year, low mortgage interest rates. I’ve published this chart before, but it bears a repeat visit.<\/p>\n","protected":false},"author":2,"featured_media":9754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"0","ocean_second_sidebar":"0","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"0","ocean_custom_header_template":"0","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"0","ocean_menu_typo_font_family":"0","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"0","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[682],"tags":[977],"class_list":["post-956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trends-statistics","tag-louisville-mortgage-rates-expected-to-rise","entry","has-media"],"_links":{"self":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts\/956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/comments?post=956"}],"version-history":[{"count":1,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts\/956\/revisions"}],"predecessor-version":[{"id":21325,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/posts\/956\/revisions\/21325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/media\/9754"}],"wp:attachment":[{"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/media?parent=956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/categories?post=956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trepryor.com\/blog\/wp-json\/wp\/v2\/tags?post=956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}