How are High Interest Rates impacting Home Buying Power

With interest rates rising, how much purchasing power do you actually have when buying a home?

As interest rates rise, houses are obviously getting more expensive with that monthly payment. What a lot of people are saying as well, “I’m going to wait for the housing market to drop”.

Well, first off, do you really want to buy when the housing market is falling? 

Hopefully that’s not going to be happening here soon. There’s really no sign that that’s going to be a cream. However, it is looking like things are going to start leveling off soon. There’s going to be buyers that start dropping out of the market with interest rates going up, which is going to make it a little less competitive for you to finally get in and buy a home.

It has been incredibly competitive lately to buy a home, but hopefully there’ll be a little less competition so you can actually get in. Let’s find out what kind of purchasing power you have with the new interest rates and see what kind of home that you can actually get into.

So if that sounds of interest to you, please reach out to me. Let’s have that conversation about what type of home you can get into with the type of interest rates and different loan products that are out there right now. And let’s look at some strategies how to get your offer accepted and get you into that home ASAP.

Curtis Chism, Realtor
858-281-2568 | Mobile
mailto:info@sandiegohomes.io
Chism Team | DRE #02105113
brokered by eXp Realty | DRE #01878277