Buyer Tips and Advice

What happens when home prices and mortgage rates increase?

What happens when home prices and mortgage rates increase?

Sometimes it seems that economic outlooks are like medical studies.  One day coffee is good for you, the next day it will kill you.

Turning hourglassAnd sometimes, timing is the key to the results

But, it can not be denied that in San Diego county we have already felt the effect of the home prices and mortgage rates increase.

If you are out searching for a home, you probably have a monthly payment budget in mind.  If you don’t, you should and that budget should be based on what your lender had pre-approved you for?  Not pre-approved? Find out why being pre-approved is a VERY important part of your home shopping strategy.

So what happens to your monthly payment when home prices and mortgage rates increase?

Give this widget a try and see how easy it is to gauge the difference in expected home loan payments as prices and/or rates change. You may learn that you’re comfortable with waiting or be inspired to act today. Either way, we’re here to provide the resources you need to stay fully informed.

Time-to-check-it-out

Ready for more info about pre-approval or how home prices and mortgage rates increasing might affect your budget?

Reach out to me, as always, I will be happy to assist.

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