Are Interest Rates on the Rise in Northwest Indiana?

There are many great Northwest Indiana area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (219) 531-1111 for a FREE home buying or selling consultation to answer any of your real estate questions.

The other day, I got an article from a friend about interest rates. It said that because oil prices have plummeted lately, interest rates are going to go down. I found that to be pretty interesting, so I started doing some research myself. An article I found said that because of the drop in oil prices, interest rates are going to rise! Then, in another article, it was predicted that interest rates were going to stay the same! What gives?

With three different predictions in three different articles, what was I supposed to think? I thought long and hard, I looked into my real estate crystal ball, and I found that... I HAVE NO IDEA WHAT RATES ARE GOING TO DO THIS YEAR! 

The truth is: NOBODY DOES! 

Recently, rates have been historically low. Since no one is sure when they'll rise and by how much, now is the time to take advantage of low interest rates! We can't be certain when these conditions will change, so we suggest making a move now, while the market is in fantastic shape! 

If you have a $200,000 mortgage, at a 4% rate, and rates go up 1%, the difference is $120 a month! That one percent rise in the rate will cost you $43,200 over the course of a 30-year loan! With rates at all-time lows, now is the time to make your dollar go further. 

If you have any questions about market conditions here in Northwest Indiana, or would like real estate assistance of any kind, don't hesitate to give me a call or shoot me an email. I would love to help you make the most of this fantastic market!

Thanks, and have a fantastic week!