{"id":93,"date":"2013-10-22T23:55:52","date_gmt":"2013-10-23T03:55:52","guid":{"rendered":"https:\/\/sierrasothebysrealty.blog\/2013\/10\/22\/mortgage-rates-on-the-rise\/"},"modified":"2013-10-22T23:55:52","modified_gmt":"2013-10-23T03:55:52","slug":"mortgage-rates-on-the-rise","status":"publish","type":"post","link":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/2013\/10\/22\/mortgage-rates-on-the-rise\/","title":{"rendered":"Mortgage Rates on the Rise"},"content":{"rendered":"

Experts say it would be advantageous for homebuyers to take advantage of the current interest rates before they get any higher. Mortgage rates are currently near 5 percent, and forecasts predict rates will increase to 6 percent in 2014. The Federal Reserve also plans to taper the monthly bond purchasing program, which is expected to raise the mortgage rates even higher. A recent blog post on realtor.com\u00ae <\/a>illustrates the long term effects of rising mortgage rates:<\/p>\n

5 percent interest rate –<\/b> A buyer gets a 30-year fixed-rate mortgage at a 5 percent \"Interest\u00a0interest rate on a $300,000 loan:
\nMonthly payment = $1,610.46
\nTotal payment = $579,569.69
\nTotal interest = $279,769.69<\/p>\n

6 percent interest rate – <\/b>A buyer gets a 30-year fixed-rate mortgage at 6 percent interest rate on a $300,000 loan:
\nMonthly payment = $1,798.65
\nTotal payment = $647,515.44
\nTotal interest = $347,515.44<\/p>\n

The buyer with a 6 percent interest rate would pay over $67,000 dollars more for a $300,000 dollar home than a buyer with 5 percent interest rate on the same amount.<\/p>\n

Don\u2019t miss the opportunity to lock in a low interest rate on an extraordinary Sierra Sotheby’s International Realty<\/a> property. Our local brokerage offices enable buyers to find representatives experienced in offering exceptional homes<\/a> in Lake Tahoe<\/a>. For more information, visit www.sierrasothebysrealty.com<\/a> and \u201cLike\u201d us on Facebook<\/a>.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Experts say it would be advantageous for homebuyers to take advantage of the current interest rates before they get any higher. Mortgage rates are currently near 5 percent, and forecasts predict rates will increase to 6 percent in 2014. The Federal Reserve also plans to taper the monthly bond purchasing program, which is expected to […]<\/p>\n","protected":false},"author":248546753,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[1359,1364,1365,1369],"tags":[1464,1602,1615,1616,1664,1677],"class_list":["post-93","post","type-post","status-publish","format-standard","hentry","category-california-real-estate","category-media","category-nevada-real-estate","category-tahoe-real-estate-news","tag-california-real-estate","tag-lake-tahoe-luxury-real-estate","tag-lake-tahoe-real-estate","tag-lake-tahoe-real-estate-agents","tag-mortgage-rates","tag-nevada-real-estate"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pfNAru-1v","jetpack-related-posts":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/posts\/93","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/users\/248546753"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/comments?post=93"}],"version-history":[{"count":0,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/posts\/93\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/media?parent=93"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/categories?post=93"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sothebysrealty.com\/sierrasir\/blog\/wp-json\/wp\/v2\/tags?post=93"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}