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    How Current Interest Rates Can Have a High Impact on Your Purchasing Power

    How Current Interest Rates Can Have a High Impact on Your Purchasing Power | Simplifying The Market

    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.

    The chart below shows the impact that rising interest rates would have if you planned to purchase a home within the national median price range while keeping your principal and interest payments between $1,850-$1,900 a month.

    How Current Interest Rates Can Have a High Impact on Your Purchasing Power | Simplifying The Market

    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.

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    Jason Tumlinson

    About Me BCS LISTING & BUYER SPECIALIST Specialties: Buyer's Agent, Listing Agent, Relocation BCS DREAM HOMES WHY CHOOSE JASON AS YOUR AGENT? (CALL OR TEXT 979-255-6999) As an agent who's an expert in this local area, I bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you can trust for up-to-date information. I am eager to serve you. Here are some of the things I can do for you: Find Your Next Home You need someone who knows this area inside and out! I can work with you to find the right home at the right price for you, including all the neighborhood amenities that matter - not to mention the essential criteria you have for your ideal home Sell a Home When it's time to move, you need someone who will advertise your home, show to prospective buyers, negotiate the purchase contract, arrange financing, oversee the inspections, handle all necessary paperwork and supervise the closing. I can take care of everything you need, from start to close. Consult on Home Selling Tactics Oftentimes buyers don't visualize living in your home the way you do. I can make your home attractive to its ideal audience - which can help you get top dollar. Things like staging the home, making repairs or minor improvements, or even simply painting the walls can be the difference between a home resting on the market and one that's sold fast. Please contact Jason at 979-255-6999 or email him at jasontumlinson@kw.com if interested in buying, selling or investing! Visit my website at www.bcsdreamhomes.com VLB, CMRS

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