Ever wonder what purchase power you have when buying a home? Here is a great diagram to show you when interest rates rise, how that effects the amount of home you can buy. As interest rates rise, the amount of home you can afford decreases.
Here’s a few reasons to buy a home today:
A. Interest Rates are Rising-Buy your home today before the rate increase.
B. Purchase More home now then down the road-The higher the Rates the less home you can afford.
C. Buying a home before the End of the Year-Buying a home before the end of the year, you will have a great tax write off.
Here’s a few reasons to Sell a home today:
A. With interest Rates Rising, buyers are out looking-If you are considering selling your home, now is a time to sell
B. Home Inventory is still low, and buyers are having a hard time finding homes- with low inventory many Sellers have multiple buyers.
C. Higher end homes are not moving as quickly as the lower end home- Now is a great time to upgrade
This information provided by Ryan Gilliam, Sr. Mortgage Banker with Waterstone Mortgage. Please feel free to contact Ryan with any lending questions at 480.635.3035 or email him at firstname.lastname@example.org. As always, if you are interested in buying or selling a home, contact Our Team Red Brick Agents at www.TeamRedBrick.com