The High Impact of Low Interest Rates on Your Ventura County Home

By
Real Estate Agent with Allison James Elite CA. BRE 01501699

Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions.

The High Impact of Low Interest Rates on Your Purchasing Power | MyKCM

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, 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.

The chart below 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.

The High Impact of Low Interest Rates on Your Purchasing Power | MyKCM

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000). Experts predict that mortgage rates will be closer to 5% by this time next year.

Act now to get the most house for your hard-earned money.

 

 
 

 

https://drive.google.com/file/d/0Bzia-m_p1JFMMVMzSGZFdmNYV28/view?usp=sharing

http://chrisbjohnson.neighborhood.report/

http://chrisbjohnson.valuedagent.com/

http://www.simivalleyshortsalehelp.com

http://www.simivalleyshortsalespecialists.com

http://www.simplifyingthemarket.com/?a=97822-26df5ea08f8689012df0225866ae0bf1

https://www.linkedin.com/today/author/chrisbjohnson

https://www.linkedin.com/pro/chrisbjohnson

http://www.linkedin.com/in/chrisbjohnson

http://activerain.com/profile/chrisbjohnson

http://activerain.com/blogs/chrisbjohnson

http://www.trulia.com/profile/ChrisBJohnsonRealtor

http://www.UpNest.com/re/real-estate-agent/1742704075/Chris-B-Johnson

https://www.youtube.com/c/ChrisBJohnsonRealtor

http://chrisbjohnsonrealtorluxuryhomes.blogspot.com/

http://plus.google.com/+ChrisBJohnsonRealtor?a=97822-26df5ea08f8689012df0225866ae0bf1

http://www.google.com/+ChrisBJohnsonRealtor

http://www.google.com/+ChrisBJohnsonRealtorMoorpark

http://www.google.com/+ChrisbjohnsonrealtorMoorparkShortSaleRealtor

http://www.facebook.com/ChrisBJohnsonRealtor

http://www.ChrisBJohnsonRealtor.com

http://www.twitter.com/CBJRealtor

 

Posted by

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Selling
Location:
California Ventura County
Tags:
luxury home specialist
ventura county homes for sale
short sale specialist
find bank owned reo homes
number 1 realtor in moopark
top ten realtor in ventura county
ar best real estate agent

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
508,852

Chris B Johnson REALTOR®

5 Star Rated REALTOR® Quality, Not Quantity
Is it Too Late to Short Sell My Home??
*
*
*
*
Spam prevention

Additional Information