There are countless forecasts that the interest rates are going to rise in 2016.   It is important to consider what rates will do if you are planning on purchasing a home in 2016 or beyond.  Below is a chart showing the forecasted rate increase which could impact your purchase power when buying a home.

Colorado Springs Mortgage Rates 2016

Now that you see where rates are forecasted to be here is a table showing how interest rates would impact the purchasing power of a prospective buyer on a $300,000 home.

Easy to see that if you are considering a home purchase, purchasing sooner rather than later will most likely make more sense financially over time.  Contact us today to put a 2016 plan together for you.