With interest rates at an all-time low (near 2.625%), many are taking advantage by refinancing their current home loan or jumping into the market to buy. How does this help buyers?
In addition to lowering the amount of money you’ll have to pay to borrow the low, lower rates can give you more buying power since a small portion of your monthly mortgage payment will be put towards interest. This means being able to afford a little bit more house than you might if interest rates were higher, possibly opening up your budget and price range during house hunting time.
Sometimes it doesn’t make sense to rent anymore after you crunch numbers and do the math! Don’t hesitate to reach out if you need help figuring out if buying would work for you. We know plenty of people who can help walk you through your situation and show you your options!
