One thing I like about real estate is that it is ever changing. The properties that are available, the ones that are under contract and new offerings of additional homes for sale change every day or even every hour! It can be a lot to keep up with. Supply and demand have a tremendous impact on the housing market in any given area! You may wonder how changing prices and rates impact your monthly mortgage payment.
In this weeks blog and video I look at how interest rates and home prices impact a buyer’s monthly mortgage payment. In many cases, the interest rate has more affect on the monthly payment than the price of the home or the amount financed. In this example, the exact numbers are not the point. I want to get you thinking about the concepts and how the parts add up to create a mortgage payment.
Need more info about mortgages? I can put you in touch with a great lender. Just let me know what questions you have and the best way to reach you.
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