{"id":2321,"date":"2018-05-22T10:00:44","date_gmt":"2018-05-22T10:00:44","guid":{"rendered":"https:\/\/thezakariagroup.com\/how-current-interest-rates-can-have-a-high-impact-on-your-purchasing-power\/"},"modified":"2018-05-22T10:00:44","modified_gmt":"2018-05-22T10:00:44","slug":"how-current-interest-rates-can-have-a-high-impact-on-your-purchasing-power","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/how-current-interest-rates-can-have-a-high-impact-on-your-purchasing-power\/","title":{"rendered":"How Current Interest Rates Can Have a High Impact on Your Purchasing Power"},"content":{"rendered":"
\n

\"How<\/p>\n

According to\u00a0Freddie Mac\u2019s\u00a0<\/em>latest\u00a0<\/em>Primary Mortgage Market Survey<\/em><\/a>,<\/em>\u00a0interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history!<\/span><\/p>\n

The interest rate you secure when buying a home not only greatly impacts your monthly\u00a0housing costs<\/a>, but also impacts your purchasing power.<\/p>\n

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford to buy will decrease if you plan to stay within a certain monthly housing budget.<\/p>\n

The chart below shows the impact that rising interest rates would have if you planned to purchase a home within the national median price range while keeping your principal and interest payments between $1,850-$1,900 a month.<\/p>\n

\"How<\/a><\/p>\n

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000). Experts\u00a0predict<\/a>\u00a0that mortgage rates will be closer to 5% by this time next year.<\/p>\n

Act now to get the most house for your hard-earned money.<\/strong><\/h4>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

According to\u00a0Freddie Mac\u2019s\u00a0latest\u00a0Primary Mortgage Market Survey,\u00a0interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly\u00a0housing costs, but also impacts your purchasing power. Purchasing power, simply put, is […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[98,99,104,101],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\nHow Current Interest Rates Can Have a High Impact on Your Purchasing Power - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/how-current-interest-rates-can-have-a-high-impact-on-your-purchasing-power\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Current Interest Rates Can Have a High Impact on Your Purchasing Power - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"According to\u00a0Freddie Mac\u2019s\u00a0latest\u00a0Primary Mortgage Market Survey,\u00a0interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history! 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