Interest Rates Vs. Your Monthly Housing Payments

Spring is right around the corner, so flowers are starting to bloom, and many potential homebuyers are getting ready to step into the market. If you’re thinking of buying this season, here’s how mortgage interest rates are working in your favor. To put this in perspective, the following chart from the same article shows how average mortgage rates by decade have impacted the approximate monthly payment of a $200,000 home over time: Keep in mind, if interest rates go up, this can push many potential homebuyers out of the market. You certainly don’t want to be priced out of the market this year, and waiting may mean a significant change in your potential mortgage payment should rates start to rise. If your financial situation allows, now may be a great time to lock in at a low mortgage rate to benefit greatly over the lifetime of your loan. It is time to buy if you by any means can... #security #stability #appreciation #wealth #buyhome #sellhome #stoprenting #homebuyers #homes #Homownership #intero #Berkshire #LetsTalk #HomeServicesOfAmerica