If, for example, you’re getting ready to buy a home and know your budget allows for a monthly payment of $1200-1250 (marked in gray on the table above), every time the mortgage rate increases, the loan amount has to decrease to keep your monthly cost in range. This means you may have to look for lower-priced homes as mortgage rates go up if you want to be able to maintain your budget. ...
Kevin Budde of Monarch Coast Financial shares his recent "Real Estate Talking Points" where he gives weekly market updates on the latest real estate headline news.
This week Kevin's key points are:
- Today’s home price appreciation is driving equity higher throughout the country.
- If your needs are changing and you’re ready for a new home, your equity may be a great asset to power your next move.
- Now is a great time to put your equity toward a down payment on the home of your dreams.