EXIT Realty Premier Blog
How Changing Mortgage Rates Can Affect You
April 3, 2023
For BuyersInterest RatesBuying MythsThe 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power.
The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment:
Even a 0.5% change can have a big...
