August 21, 2016

Lower rates = more purchasing power

The mortgage interest rate you score plays a large part in how much money your lender will allow you to borrow and how much home you can afford. Which begs the question: How would your purchasing power change if rates crept up a half a point or even one full percentage point by the time you were ready to purchase? Much more than you might think, which is why it pays to shop for a mortgage now and lock in soon at a favorable fixed rate while mortgage interest rates remain near historical lows.

Learn more by reading my newest article for The Mortgage Reports, which you can access by clicking here.