Purchasing Power and Mortgage Rates: Why Every Percent Matters

Photo courtesy of Lysi Bishop Real Estate Last week’s Fed meeting drew plenty of attention, with many hoping a rate cut would deliver an immediate drop in mortgage rates. Instead, the Fed lowered its benchmark rate by 0.25%, and mortgage rates barely budged. That’s because mortgage rates don’t mov

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How Interest Rates Impact Affordability

The Federal Reserve has been on a mission to dampen rising inflation by increasing borrowing interest rates. These increases are impacting borrower's affordability in their mortgage loans. The impact for each buyer will depend on their interest rate, home price, and down payment. However, all buyers

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Buyers - Do You Know About Rate Buydowns?

  There’s no doubt that buyers have a little more say in the real estate market today than they did just even a few months ago. Increasing inventory levels and longer days on market are giving buyers options and time to make purchasing decisions, and sellers are more willing to give concessions to m

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