The Difference Your Interest Rate Makes
Home purchasing power is greatly affected by interest rates, unless you’re paying cash. With historic lows on mortgage rates edging upward, here’s some quick info on how that impacts your home buying budget.
Some Highlights:
- Your monthly housing cost is directly tied to the price of the home you purchase and the interest rate you secure for your mortgage.
- Over the last 30 years, interest rates have fluctuated greatly with rates in the double digits in the 1980s, all the way down to the near 4% we are experiencing now.
- Your purchasing power is greatly impacted by the interest rate you secure. Act now before rates go up!
KCM.com December 2016