Posts Tagged ‘purchasing power’
The Impact Your Interest Rate Makes
Highlights: Interest rates have come a long way in the last 30 years. The interest rate you secure directly impacts your monthly payment and the amount of house that you can afford if you plan to stay within a certain budget. Rule of Thumb: every 1% increase in interest rates decreases your buying power by…
Read MoreThe High Impact of Interest Rates on Your Buying Power
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history. The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is…
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