Wenatchee Interest Rates And Buyers Home Purhasing Power

Wenatchee Interest Rates And Buyers Home Purhasing Power

Image title

According to Freddie Mac's latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.47%. Rates have remained at or below 3.5% each of the last 16 weeks, marking a historic low. The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of home you can afford buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget. The chart below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments at or about $1,100 a month. With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5%, (in this example, $6,250). Experts predict that mortgage rates will be closer to 4% by this time next year. Act now to get the most house for your hard earned money. Find every North Central Washington Real Estate Listing at www.NCWhomes.com



Find Every North Central Washington Real Estate Listing at www.NCWhomes.com

Wenatchee, East Wenatchee, Chelan & Leavenworth Real Estate.

Melissa & Kent Kiser

[email protected]

509-668-8800

REMAX Landmark

Image title



Melissa Kiser Headshot
Author:
Phone: 509-668-8800
Dated: November 6th 2016
Views: 916
About Melissa: We are full time Realtors for over 27 years, we have successfully represented buyers, sellers and in...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Wenatchee, WA Real Estate - Melissa & Kent Kiser REMAX Landmark
1835 N Wenatchee Ave
Wenatchee, WA
509-293-7499
1-888-253-7380