PLEASE CALL OR EMAIL US:

505 106th Avenue NE Suite 210

Bellevue, WA 98004

© 2018 by theone

  • Facebook - Grey Circle

Low Interest Rates Have a High Impact on Your Purchasing Power

March 11, 2018

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, 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 the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget.

Email us to request a chart shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments between $1,850-$1,900 a month.

 

Share on Facebook
Share on Twitter
Please reload