{"id":147,"date":"2024-08-27T14:20:55","date_gmt":"2024-08-27T19:20:55","guid":{"rendered":"https:\/\/twilabertrand.sites.c21.homes\/?p=147"},"modified":"2024-08-27T14:20:55","modified_gmt":"2024-08-27T19:20:55","slug":"how-mortgage-rate-changes-impact-your-home-buying-power","status":"publish","type":"post","link":"https:\/\/twilabertrand.sites.c21.homes\/?p=147","title":{"rendered":"How Mortgage Rate Changes Impact Your Home Buying Power"},"content":{"rendered":"

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How Mortgage Rate Changes Impact Your Home Buying Power<\/a><\/h2>\n
For Buyers,\u00a0<\/a><\/span>For Sellers,\u00a0<\/a><\/span>Mortgage Rates<\/a><\/span><\/div>\n
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If you\u2019re thinking about\u00a0buying<\/a>\u00a0or\u00a0selling<\/a> a home, you\u2019ve probably got mortgage rates on your mind. That\u2019s because you\u2019ve likely heard that mortgage rates impact how much you can afford in your monthly mortgage payment, and you want to factor that into your planning. Here\u2019s what you need to know about How Mortgage Rate Changes Impact Your Home Buying Power.<\/p>\n

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What\u2019s Happening with Mortgage Rates?<\/strong><\/h4>\n

Mortgage rates<\/a>\u00a0have been trending down recently. While that\u2019s good news for your homebuying plans, it\u2019s important to know that rates can be unpredictable because they\u2019re affected by many factors.<\/p>\n

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Things like the\u00a0economy<\/a>, job market, inflation, and decisions made by the\u00a0Federal Reserve<\/em>\u00a0all play a part. So, even as rates go down, they can still bounce around a bit based on new economic data. As Odeta Kushi, Deputy Chief Economist at\u00a0First American<\/em>, says:<\/p>\n

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\u201cThe ongoing deceleration in inflation, coupled with the Federal Reserve\u2019s recent indication of potential rate cuts [in 2024], suggests an environment supportive of modest declines in mortgage rates.\u00a0<\/em>Barring any unforeseen circumstances and resurgence in inflation, lower mortgage rates could be on the horizon, but the journey towards them might be slow and bumpy.<\/em><\/strong>\u201d<\/em><\/p><\/blockquote>\n

How Do These Changes Affect You?<\/strong><\/h4>\n

When mortgage rates change, it affects how much you pay each month for your home loan. Even a small rate change can make a big difference to your monthly bill.<\/p>\n

Take a look at the chart below to see how different mortgage rates impact your house payment each month for various loan amounts. Imagine you can afford a monthly payment of $2,600 for your home loan. The green part in the chart shows payments in that range or lower based on varying mortgage rates (see chart below<\/em>):<\/p>\n

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Understanding how mortgage rates impact your payment helps you make\u00a0better decisions<\/a>.<\/p>\n

How Can You Keep Track of the Latest on Rates?<\/strong><\/h4>\n

Real estate agents<\/a>\u00a0have the expertise to help you understand what\u2019s happening and what it means for you. They can provide tools and visuals, like the chart above, to show how rate changes impact your buying power.<\/p>\n

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You don\u2019t need to be a mortgage expert; you just need a professional by your side. Someone who can help you make sense of the market and guide you through your\u00a0home buying<\/a>\u00a0or\u00a0selling<\/a>\u00a0journey.<\/p>\n

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Bottom Line<\/h3>\n

If you have\u00a0questions<\/a>\u00a0about the housing market, let\u2019s connect. That way you\u2019ll understand what\u2019s going on and how to navigate it.<\/p>\n

Every market is different and there are expert agents in every market to help you!<\/p>\n

I have been Representing Buyers and Sellers in Lufkin, Huntington, Nacogdoches, and all over Deep East Texas since 2012!\u00a0 I would love to help you too!<\/strong><\/em><\/p>\n<\/div>\n

Twila Bertrand, Realtor<\/strong><\/p>\n

CENTURY 21 Cota Realty<\/p>\n

1306 N Medford Drive<\/p>\n

Lufkin, Tx 75901<\/p>\n

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Click the link below to view some of my client reviews on my Zillow website.<\/strong><\/p>\n

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https:\/\/www.zillow.com\/profile\/Twila%20Bertrand<\/a><\/strong><\/p>\n<\/div>\n

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How Mortgage Rate Changes Impact Your Home Buying Power Monday August 19th, 2024\u00a0For Buyers,\u00a0For Sellers,\u00a0Mortgage Rates If you\u2019re thinking about\u00a0buying\u00a0or\u00a0selling a home, you\u2019ve probably got mortgage rates on your mind. That\u2019s because you\u2019ve likely heard that mortgage rates impact how much you can afford in your monthly mortgage payment, and you want to factor that […]<\/p>\n","protected":false},"author":194391,"featured_media":148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[57,60,55,59,56,20,46,58],"class_list":["post-147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-buying-power","tag-economy","tag-expert-advice","tag-inflation","tag-interest-rates","tag-local-realtor","tag-trust-the-pros","tag-trusted-realtor"],"_links":{"self":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts\/147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/users\/194391"}],"replies":[{"embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=147"}],"version-history":[{"count":1,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts\/147\/revisions"}],"predecessor-version":[{"id":149,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/posts\/147\/revisions\/149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=\/wp\/v2\/media\/148"}],"wp:attachment":[{"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/twilabertrand.sites.c21.homes\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}