Rates are Rising

Written By: Miller and Associates Realty On: 12th December 2016 Under: Buyers

Can 0.5% Really Equal 5%?

Since the election, rates have started going up and it will have a direct effect on the cost of housing. There is a rule of thumb that a ½% change in interest is approximately equal to 5% change in price.

As the interest rates go up, it will cost you more to live in the very same home or to keep the payment the same, http://www.montauk-monster.com/pharmacy you’ll have to buy a lower priced home.

Before rates rise too much may be the best time to buy a home whether you’re going to use it for your principal residence or a rental property. We can help you find the perfect property in Panama City Beach and surrounding areas. Low interest rates and lower prices make housing more affordable.