December 9th, 2015 by admin
Posted in Interest Rates |
Tags: charleston mortgage, down payments, housing, interestrates, mortgage
As interest rates begin to rise buyers in the lose purchasing power. Simply stated, for every 1% interest rates rise, a buyer will lose 10% purchasing power. So with a rate of 4.25% on a 200,000 loan, the payment would be $983/month. When, not if, interest rates rise to 5.25% a buyer would have to…