How Changing Mortgage Rates Can Affect You
This year, the 30-year fixed mortgage rate has been bouncing between 6% and 7%. If you’ve been on the fence about buying a home, knowing exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power is helpful. The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment: Even a 0.5% change can Continue Reading