The Impact of Changing Mortgage Rates [INFOGRAPHIC]

-

The Impact of Changing Mortgage Rates [INFOGRAPHIC]




Some Highlights

  • If you're looking to buy a home, you should know even a small change in mortgage rates has an impact on your purchasing power.
  • These charts show how rates generally affect your monthly payment.
  • The best way to navigate changing mortgage rates and make an informed buying decision is to rely on the expertise of a local real estate professional and mortgage lender.

Comments

Post a Comment

Popular posts from this blog

Hazard Insurance vs Homeowners Insurance

-
Image
Hazard Insurance vs Homeowners Insurance Understanding the Differences As a homeowner, it is important to protect your investment and your belongings from unexpected events. This is where insurance comes in. However, many homeowners are often confused between hazard insurance and homeowners insurance and end up purchasing the wrong type of coverage or paying for unnecessary coverage. In this blog, we will discuss the differences between these two types of insurance and help you make informed decisions. What is Hazard Insurance? Hazard insurance is a type of insurance that covers your home from damages caused by risks or perils, such as fire, vandalism, and natural disasters. It is usually required by mortgage lenders to protect their investment in case of unforeseen events. Hazard insurance covers the structure of your home, including the roof, walls, and foundation, as well as other structures on your property, such as a detached garage or shed. ...
Read more

Choosing the Right Mortgage Fixed, Variable, or Adjustable

-
Image
Choosing the Right Mortgage: Fixed, Variable, or Adjustable By Your Name Buying a home is a major decision and one of the biggest financial investments you will make in your lifetime. With so many options available, it can be overwhelming to choose the right mortgage for your needs. The three main types of mortgages are fixed, variable, and adjustable. In this blog, we will discuss the differences between these options and help you decide which one is the best fit for you. Fixed Mortgage A fixed mortgage is a loan with an interest rate that remains the same for the entire term of the loan. This means that your monthly payments will also stay the same, providing stability and predictability. Fixed mortgages are a popular choice for homeowners who prefer to have a consistent payment and want to avoid any surprises. One of the main advantages of a fixed mortgage is that it protects you from any potential interest rate increases. If you lock in a...
Read more

Why Homeownership Wins in the Long Run

-
Image
Why Homeownership Wins in the Long Run Today's higher mortgage rates , inflationary pressures , and concerns about a potential recession have some people questioning: should I still buy a home this year? While it's true this year has unique challenges for homebuyers, it's important to think about the long-term benefits of homeownership when making your decision. Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you're probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own wealth. That may be why, in a recent Fannie Mae survey , 70% of respondents say they believe buying a home is a safe investment . Here's a look at how just the home price appreciation piece can really add up over the years. Home Price Growth over Time The map below uses data from the Federal Housing Finance Agency (FHFA) to show ju...
Read more