Interest Rate & Your Buying Power
Some Real Estate Highlights:
- Your monthly housing cost is tied to the purchase price of your home + your mortgage interest rate.
- Over the past 30 years, interest rates have fluctuated greatly with rates in the double digits in the 1980s, down to below 4% in 2016.
- Your purchasing power is impacted by the interest rate you secure – the lower your rate, the higher the purchase price you can qualify for.
- Buy now before rates go up even more!