Verrado Homes For Sale | How Current Interest Rates Can Have a High Impact on Your Purchasing Power

Located at the foot of the White Tank Mountains, surrounded by high palm trees and over 21 miles of walking trails…Verrado is one of the most beautiful planned communities in the surrounding Phoenix area.       

The developers of Verrado put a lot of focus to paved walking trails meandering through common spaces and the creation of over 70 neighborhood parks framed and surrounded by mountain views and incredible natural views.     

There are many communities that are planned around specific locations to fit budgets and work force…but Verrado is one of the few places where its natural beauty took precedence on the development of an environmentally friendly area for the enjoyment of all the lucky residents      

Homes in Verrado are relatively new, it is one of the largest suburban communities in the Phoenix Metropolitan area. There are many types of homes available, from open floor plans, rustic ranch haciendas to relaxing front-porch models with modern amenities and luxurious finishes. This includes traditional two-story homes, European-style bungalows, single-family desert oases, and trendy lofts.       

Today, I would like to bring your attention to the following: How Current Interest Rates Can Have a High Impact on Your Purchasing Power

According to Freddie Mac's latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, 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 to buy will decrease if you plan to stay within a certain monthly housing budget.

READ MORE: https://www.lovingphoenixrealty.com/blog/verrado-homes-sale-how-current-interest-rates-can-have-high-impact-your-purchasing-power/

???Thinking of selling your home? Let Cheryl take over the marketing of your property
www.lovingphoenixrealty.com/ - Call or text 623.206.9936 for more information.