How Will The Rising Interest Rates Affect You?

Dated: June 1 2017

Views: 165

If you are thinking about buying or selling it is very important to pay attention to the current interest rates and know how they are going to affect you! When interest rates go up they raise a buyer's monthly payments which makes the affordability go down as one's income does not change. What this means is that many buyers who were previously approved, with lower rates, for $450,000 are now getting approved for $425,000. 

This has a direct impact on sellers in that the entire pool of buyers may no longer be able to afford to purchase your home as easily, which can put downward pressure on the pricing of your home. It's all about supply and demand. 

If you are looking to buy, obviously you want to have the lowest interest rate possible which will allow you to afford more and have a higher budget.

If you are looking to sell and would like an analysis of what it will take to sell your home at top value, or are interested in taking advantage of the rates while they are lower, GIVE US A CALL at 703-338-0872!

We've just launched a new website! Check out www.myvirginianeighborhood.com for all kinds of statistics on your neighborhood's specific market

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Kim Barber

Buyers - Whether you're looking for your first home, your dream home or an investment property, I'm committed to providing you with the highest quality buyer service. When making the type of investmen....

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