How Higher Rates Impact Your Purchasing Power
Posted by Darleen Lannon on Wednesday, May 11, 2022 at 8:55 PM
By Darleen Lannon / May 11, 2022
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When the rate of interest on loans goes up, homeowners must make larger monthly payments for their homes. Higher Rates = Less Purchasing Power. As rates go up, home affordability goes down.
For every 1% increase in interest rates our buying power decreases by about 10%.
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