With the first quarter of 2018 in the books, the 30-year fixed rate mortgage is nearing what Freddie Mac predicted it would be in the second quarter. If this pace continues, rates will exceed the five percent mark expected by the end of the year.

The Fed has had its first of an expected three raises for this year and two more are expected in 2019. While these rates are not directly related to mortgages, they certainly have an effect.

Delaying the decision to purchase or refinance could be an expensive missed opportunity. A $270,000 mortgage at 4.44% has a principal and interest payment of $1,358.44 per month. If the rate were to rise one-percent in the next twelve months, the payment would be $1,522.88.

The $164.44 increase would cost a homeowner an additional $13,812.97 in seven years and close to $60,000 over the full term of the loan.

The question facing people is “what would you spend $164.44 each month if you had acted sooner to get the lower rate?”

If you’re curious to know what your “missed opportunity” could be costing you, try this Cost of Waiting to Buy calculator . Use 0% increase on price change if you are refinancing a home you already own.

Valery Blank, Broker Associate, Certified in Fine Homes & Estates, ABR, AHS, AHLS, CDPE, CPRES, CRS, DGR, GREEN, GRI, OICP, RFC, SFR, SRES, TRC Remax Integrity – The Valery Blank Team 19510B Kuykendahl Road Spring, Texas 77379 Phone:(713)515-2135 Fax: (281) 605-5017 www.ValsTheKey.com   In compliance with TREC Regulations, attached are forms explaining your rights and representation: Information About Brokerage Services Consumer Protection Notice   REAL Trends’ “America’s Best Real Estate Agents” for 2015 (Top 10,000 Agents in the US) Top 10 Leading Real Estate Professionals in the Western US-2009 – published in Forbes Magazine 9/09 Top 10 Most Dependable Real Estate Professionals of Texas-2008 – published TX Monthly Magazine 9/08 “Top Quarterly Selling & Listing Agent-RE/MAX Integrity-2008, 2009, 2010, 2011, 2012, 2013, 2014 Executive Club – REMAX, LLC – 2008 & 2009 100% Club – REMAX, LLC – 2016 Platinum Club – REMAX, LLC – 2010, 2011, 2012, 2013, 2015 Chairmans Club – REMAX, LLC – 2014 Featured Realtor of the Month in Real Estate Executive Magazine 6/2009 Five Star Real Estate Agent – 2011, 2013, 2015, & 2017