Great Opportunities When Offered Should Be Acted Upon

Our preferred mortgage lender, Michelle Kaufmann,  has some interesting information to share.

....."The one key component in home affordability that is at greatest risk today is interest rates. Many experts have stated that interest rates should be higher than their current levels, in some cases a lot higher.

One point to remember is that every 1% increase in interest rates decreases the buying power of an individual by 10% in home price. This means that if you qualify for a home priced at $200,000 today and interest rates increase 1%, the amount you could qualify for would be reduced to approximately $180,000 to maintain the same payment.

If you could benefit from moving to a new home, don't let this opportunity pass you by. Home prices are increasing in most markets and combined with the risk of increasing interest rates, your time to get the home you want could pass you by.

For those people who haven't refinanced in the last 18 months, calling Michelle could provide you with the opportunity to either cut your mortgage payment or save a lot of money by reducing the term of your mortgage to a 15 or 20 year fixed rate...."

Call Michelle to determine what the best path is for you. The money you may save could help fund anything from a vacation to a college plan to your retirement.

As far as finding the best home for you, why not start your house search today!  We'll be glad to assist in your exciting journey to home ownership.