949-874-2247 Mark Paulson Loan Interest Rates For The Last 30 Years
The purpose of this blog post is to help you understand the great interest rates that we all have in today’s market. Looking at the rates we are at a 3 year high. However, note that we are the third lowest in the last 30 years.
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- Interest Rates
In today’s world the pressure is on increased interest rates that will cause the payment per-month to increase which will greatly affect the size and type of home you could buy.
The qualifying for a home loan is based on the amount of money the consumer makes per month less the amount of bills the consumer has. The lenders look at the amount you pay per month and the amount you bring in per-month. They also look at your history of your bill payments (FICO Score) and they qualify you for a loan. That number is a fairly fixed amount. As the interest rates move up the home you can purchase goes down.
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