How interest rates affect qualification for a home

Did you know that for every drop of 1% in interest rates on a home loan allows 5 million more people to qualify for the same home? For example, if the rate drops 1% and you want to put an offer on a $350,000 home, 5 million more people also qualify for that same $350,000 home. That's a lot more competition so buy your dream home now and if rates come back down, refinance then! It's a win-win!