Information Links
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You'll be glad you checked out these websites!
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Welcome to Keller Williams - Your Window to Real Estate in Texas
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Welcome to Keller Williams®, your source for Montgomery County Texas real estate!
Residential, Commercial, Farm & Ranch, Acreage!
pnoble@kw.com (281) 782-3723 Patricia Noble |
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In today's competitive real estate market, timing is everything. Many good properties are sold before they are ever advertised. You can beat other buyers to the hottest new properties with a free service called "My New Listings Notification". Contact me for more information.
If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Comparative Market Analysis to help determine the value of your property.
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Whether you are buying or selling real estate, hire a professional like me, who wants to earn your business. I invite you to contact me at your earliest convenience. Your privacy will be strictly guarded and you will not be hounded by an overbearing sales person! This is my promise and pledge to you.
In addition, if you have any general questions about buying or selling real estate in Montgomery County Texa, please contact me I am more than willing to help. Please feel free to browse my website for listings, reports and important local real estate information.
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Patricia Noble, REALTOR
Keller Williams Realty
ABR (Accredited Buyer's Representative)
ASR (Accredited Seller's Representative)
pnoble@kw.com
(281) 782-3723
Fax: 866-592-1868 |
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What Even a Small Increase in Interest Rates can do to Your Monthly Payment
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While it is conceivable that home prices may drop further, it is likely that these decreased prices will be accompanied by increased financing costs due to rate cuts by the Fed. This means that any money saved on paying less for a house in a few months time will be offset by your client having to pay off their mortgage at a higher interest rate making “playing the waiting game” a waste of time (and very little fun).
This rate increase isn’t just speculation. Just a couple of weeks ago, in early February, the fixed mortgage rate jumped a full half-percent, making it the fastest rate increase in 20 years.
The table below demonstrates how even as home prices may drop, monthly mortgage payments basically stay the same; due to increased interest rates:
Scenario 1:
Prices decrease by 5% and interest rates increase by 0.5%
Scenario 2:
Prices decrease by 10% and interest rates increase by 1.0%
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Today |
Scenario 1 |
Scenario 2 |
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Home Price
$218, 900 |
Home Price: -5%
$207,955 |
Home Price: -10%
$197,010 |
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Interest Rates
6.04% |
Interest Rates: +0.5%
6.54% |
Interest Rates: +1.0%
7.04% |
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Monthly Payment
$1,054 |
Monthly Payment
$1,056 |
Monthly Payment
$1,053 |
Table: Kadlec, Dan. "Ignore the Headlines!" Time 25 February 2008
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