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Michelle Haverstick's Blog

By Michelle Haverstick | Agent in Bozeman, MT

Rising Mortgages and How they May Impact YOU

The 2013 Stats are out! The Bozeman Montana Real Estate.net Team boasted:

  • ~$40.5 Million Moved in 2013
  • 136 Transactions Closed in 2013
  • 98 Buyers Purchased Home with Bozeman Montana Real Estate.net in 2013
  • We Have 3,500 Active Buyers in a Maintained and Groomed Database
  • We Are Bozeman Relocation Experts with 95% of Leads Coming From Online
  • We facilitated our largest Commercial real estate transaction: Bozeman’s Wasabi!

This year, our Thinking Outside of the Box Approach allowed us to have a more dynamite year than ever before! There are a few other 2013/2014 contrasts on the horizon…


Mortgage rates ebb and flow regularly. 2013 saw an increasing decline in mortgage rates to record breaking lows. What that is predicted to mean for 2014 is gradual rise in rates. Note, this is a prediction and prediction may or may not actualize into reality. As a nation, 2013 spoiled home owners by allowing them to get comfortable with rates that stay consistently under 5% and now, anything above will come as a cold-water shock.

In order to warm the water before jumping in, there are a few tips as to what a homeowner can do to offset the potential rise in rates:

  1. BUY NOW. Buy before mortgage rates rise. If you are on the fence, commit to a home you are fully prepared to buy. Search for Homes Now
  2. DOWN PAYMENT. Make as big of a down-payment as you feasibly are able. A down payment larger than 20% eliminates the need for private mortgage insurance reducing your interest rate with the lower loan-to-value ratio.
  3. WITHIN YOUR MEANS. Buy within your means and not beyond. Sustainable homeownership is ultimately the smartest decision you can make when purchasing.
  4. PROGRAMS. Homebuyer programs are available to first-time homebuyers. They do have options for assistance. Search for Programs
  5. REALTOR. The best way to learn about the options you have is always to hire a team of professionals to consult with when buying. Learn More About Michelle

Primary Source: http://www.realtor.com/news/how-rising-mortgage-rates-may-impact-you/#.Uu-hj_ldX3s

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