Mortgage Rates Jump Up to 4.5%

Mortgage Rates are on the Rise.

 Over the past 10 years, the highest rates have been is about 6.5%

All Time Lows have been around 3.5%.

But in the last month they have shot up from 4% to 4.5%

 So what does that mean?

An average Home in Clark County is around $250,000

If Rates go from 4% to 5%, the Payment and Interest (P&I)

jump up $150 a month or $1,800 a year

Which is an additional $54,000 for the life of the loan.

This is causing a lot of people to Buy Now before the rates get too high.

At some point it causes others to avoid buying a home at all.

You can click on Images below to go to these Interactive Web pages.

 

High End Homes are on the Rise

In Previous Posts we have looked at Median Sales Price.

Below is The Median Sales Price broken down into Quarters.

What is interesting is the for the most part, 

the Prices for the bottom 3 quarters have risen at a steady pace.

It's the Top quarter (High End Homes) has been growing at a faster pace.

Could it be the Hockey Players Pushing these prices up?

Or the legalization of marijuana causing prices to get high.

What's going to happen when the Raiders get here...

If you would like a Complete Report for your area, 

Please email me and I will send it out to you.