How will mortgage rates be changing in the next year?
Posted on 1st September 2022
Mortgage rates are a hot topic at the moment, and for good reason.
Experts are expecting them to rise significantly in the next year, which is going to have a huge impact on the property market.
In this blog post, we'll explain what mortgage rates are and how they're expected to change in the next year.
We'll also provide some advice on what you can do if you're planning to buy a house in the near future.
So, what is a mortgage rate?
Simply put, it's the interest rate that you'll pay on your mortgage.
The higher the mortgage rate, the more you'll have to pay each month.
Mortgage rates have been at historic lows in recent years, but that's all about to change.
In the next year, we're expecting mortgage rates to rise significantly.
This is due to a number of factors, including the current political climate and the state of the economy.
As mortgage rates rise, so will the monthly payments on your mortgage.
This is going to have a big impact on the property market, as people will be less likely to buy houses if they can't afford the monthly payments.
If you're thinking about buying a house in the next year, it's important to get advice from a mortgage advisor.
They'll be able to tell you how much you can afford to borrow and what your monthly payments will be.
They can also help you find the best mortgage deal for your situation.
As always, thanks for reading!
And if you have any questions, feel free to contact us anytime. We're always happy to help!
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Tagged as: Thinking about buying?
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