Interest Rates Going Up !*!

The Fed has shown their intent to raise rates three times this year. What that will do to buying power follows. For every one point interest rates change , there is an equal 10% change in the buying power of buyer’s mortgage. So what does that mean: If a buyer qualifies for a $400,000 loan today, after rates rise 1% his/her ability to borrow drops by 10% to a $360,000 mortgage. Thinking of a change – NOW IS THE TIME TO SAVE !!!

Categories: General News.