Mortgage rates, while down over the past two weeks, have trended higher since the election of President-elect Donald Trump.
In December, the Federal Reserve made its first and last interest rate hike for 2016, but left the industry with the notion that three more could be on the way for 2017.
For some, the rise in interest rates means higher profits for the first quarter of 2017, but for those looking to buy a home, it could mean higher payments or smaller homes.
An article by MarketWatch uses data gathered from the National Association of Realtors to show the top five counties where homebuyers will see the greatest change if interest rates increase to 5%, as NAR estimates they will over the next two years.
Here are the differences that an interest rate increase to 5% could cause on the payments of a median home price.
5. Santa Clara, California, directly south of San Francisco
Monthly payment at 4.2%: $4,049
Monthly payment at 5%: $4,444
Difference: $396
4. Nantucket, Massachusetts, an island off the coast of Massachusetts
Monthly payment at 4.2%: $4,306
Monthly payment at 5%: $4,727
Difference: $421
3. Marin, California, directly north of San Francisco
Monthly payment at 4.2%: $4,404
Monthly payment at 5%: $4,834
Difference: $430
2. San Mateo, California, Just south of San Francisco
Monthly payment at 4.2%: $4,458
Monthly payment at 5%: $4,893
Difference: $436
1. San Francisco, California
Monthly payment at 4.2%: $4,573
Monthly payment at 5%: $5,020
Difference: $447
On the other hand, here are the five counties that will be least affected by the interest rate increase.
5. Hudspeth, Texas, east of the El Paso area
Monthly payment at 4.2%: $211
Monthly payment at 5%: $231
Difference: $21
4. Zavala, Texas, southwest of the San Antonio area
Monthly payment at 4.2%: $207
Monthly payment at 5%: $228
Difference: $20
3. Hall, Texas, in the Texas panhandle
Monthly payment at 4.2%: $181
Monthly payment at 5%: $198
Difference: $18
2. McDowell, West Virginia, on the southernmost boarder of West Virginia
Monthly payment at 4.2%: $167
Monthly payment at 5%: $183
Difference: $16
1. Cochran, Texas, west of the Lubbock area
Monthly payment at 4.2%: $160
Monthly payment at 5%: $176
Difference: $16
