All predictions I have discovered in in recent month indicate mortgage interest rates will only rise in the future, not decline to previous record lows. The charts below illustrate your buying power lost in every incremental rate increase; often the public focuses on price, when rates are in fact equally relevant in the event you are not paying cash for your next home.
As you can see from the graphs above, a seemingly mere 1 percent increase in rates dramatically reduces your purchasing power by 10.75 percent. Because we can anticipate rates to continue rising this year, it’s evident by this chart that
If you’re ready to purchase your home, or sell yours and find your new dream home, let’s get in touch. I am happy to walk you through the process of successfully listing and selling your home for top dollar and helping you find a new home to fit your needs.