3 Ways Interest Rates Affect the Home Buying Process

Here are 3 Ways that Interest Rates Affect Buying a Home Today

Number 1: Mortgage payments

A 1% change in rates on the average price of a home in the area will result in a lower monthly payment by about $600 a month. That's why I prefer to help my clients negotiate a rate buy down with sellers so they can get their dream home now and pay less. 

Number 2: Purchasing Power

Lower interest rates increase your purchasing power, allowing you to afford a larger home for the same monthly payment.

Number 3: Competition

The higher the Interest rate, the less competition you will have when buying a home. If you know how to navigate the market today, then you will find great opportunities wile most people remain sitting on the sidelines.

If you wany more advice on what you should be asking when buying a home, then contact me today!
 

West Hills, Chatsworth, San Fernando Valley, Simi Valey, Woodland Hills, Calabasas, Tarzana, Encino, Canoga Park, Reseda, Winnetka, Porter Ranch, Granada Hills, San Fernando, Sylmar, Pacoima, North Hills, Lake Balboa, Hidden Hills, Topanga, Thousand Oaks, West Lake Village, Southern California.

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