How Interest Rates Affect Affodability

This is an inforgraphic produced by the California Association of Realtors to share.  With rising interest rates, rising home prices may take a slight pause and level out.  Over the past 32years in this business, I've seen this happen many times.  I started my career as a lender for a very large bank here in California.  Not once did anyone ask me "What can I afford" but rather asked me "How much money can I borrow?"   Rising interest rates, without an increase in wages, will most like make the current market start to cool.  That said, I don't see interest rates rising too quickly.

 

 

Gary Frimann
Broker / Owner
EAGLE RIDGE REALTY /
Signature Homes & Estates
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