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Where Are Mortgage Rates Headed in 2016

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 look at where mortgage rates are headed when deciding to buy a home in Tucson now or wait until next year 2016.

Below is a chart created using Freddie Mac’s October 2015 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.

Tucson-Mortgage-Rate-Projections-2016

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 6.4% from this time last year and are predicted to be 4.7% 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. Meet with a local real estate professional to evaluate your ability to purchase your dream home.

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Your Local Tucson Expert Real Estate Partner

Blaine Bond - Tucson Real Estate Agent and Neighborhood Tour Expert

Moving is a major life milestone. You deserve a partner who knows the Tucson dirt as well as the local market data.

Real estate is more than just a transaction—it’s one of the most powerful ways to build lasting wealth for your family. Whether you are stepping into your first home, searching for a second mountain getaway, or managing an investment portfolio, I’m here to ensure the process is smooth, transparent, and profitable for you.

Why Work With Us?

  • Market Intelligence: We don’t guess; we track the data. Get exclusive access to our Monthly Market Reports so you can see exactly where Tucson home values are heading before you buy or sell.

  • Strategic Results: The right guidance means more equity in your pocket at closing.

  • Zero Pressure: No sales tactics—just honest assistance tailored to your goals.

Ready to get started? Whether you need a formal home valuation or just have a quick question about a neighborhood, reach out to Blaine and the team today.

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