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What Do Rising Interest Rates Mean For You?

posted by Stephen Katz @ 3:36 PM
Wednesday, April 19, 2017

Today, I’ll talk about what you need to know regarding rising interest rates.

While a one percent raise might not seem like much, it can significantly affect both buyers and sellers. For example, let’s say you’re looking to buy a $200,000 home while rates are at 5%. If rates go up to 6%, you could only afford a $180,000 home. A one percent rise in rates is equivalent to 10% of home value.

Basically, while rates are low, more people can afford to buy your home. Low interest rates make it easier for sellers to sell their homes, and buyers will get lower monthly payments. I advise that you take advantage of these low rates now, as rates will continue to rise for the next few years. They will eventually come back down, but possibly not for a few years.

If you have any questions, please give us a call or send us an email. We’d be happy to help you!

Stephen Katz

(770) 309-0939 (direct) or (866) 742-8400 -- For the past 18 years, Stephen Katz has built a successful business almost entirely on referrals. As your mortgage consultant throughout the home loan process, Stephen will explain the pros and cons of all available mortgage programs and help you choose the financing option that is best suited to your needs. Throughout the loan process, he will keep you informed and will respond quickly to your requests with answers and solutions. Consistently a top producer, Stephen is a Mortgage Bankers Association "Diamond" Award winner, a Georgia Mortgage "Top Gun" and has closed almost half a billion dollars in loans. Put his knowledge and experience to work for you!

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