Interest rates are on the rise. The difference in the cost of buying a home in January 2018 and January 2019 is an increase of $113.51 per month on a home value of $250,000. Interest rates have increased from 4.50% to 5.25% and are forecast to go up even further in 2019. If you are looking to purchase a home, now it a great time to buy and save on interest expense. That monthly increase over the life of a 30-year mortgage comes to $40,863.60 more in interest payments.

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