The Blog

Buyers, Market Trends, Mortgage Jennifer Sesma Buyers, Market Trends, Mortgage Jennifer Sesma

How Today’s Mortgage Rates Impact Your Home Purchase

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power.

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Buyers, Market Trends Jennifer Sesma Buyers, Market Trends Jennifer Sesma

The Future of Home Price Appreciation and What It Means for You in Columbia County and the northern Hudson Valley.

If you’re trying to decide whether to buy now or wait, the key is knowing what’s expected to happen with home prices. Experts say prices will continue to climb in the years ahead, just at a slower pace. So, if you’re ready to buy, doing so now may be your best bet for your wallet. It’ll also give you the chance to use the future home price appreciation to build your own net worth through rising equity.

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