Relationship between Interest Rates & Purchasing Power

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.

Whether you’ve considered becoming a homeowner for the first time or have decided to sell your home and buy one that better suits your current lifestyle, now is a great time to get together and discuss your options.

Posted on May 21, 2020 at 9:30 pm
Brian Tiongson Reyes | Category: Buyer, Housing Market | Tagged , , , , , , , , , , , , , , , ,

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