Mortgage interest rates have been a big topic of conversation lately, and with the Fed raising rates last week it is becoming more than just talk. But what difference does that make on the home you can afford to buy? If you want to keep your monthly principal and interest payment under $1,000, you could buy a $205,300 house at 4.16% interest. That is still about half the historical average rate of 8% so still a good rate, but 2017 could be the year to think more seriously about making a move.
Chart from Keeping Current Matters
Sharlene Hensrud, RE/MAX Results – Email – Minneapolis – St. Paul Real Estate Market
HomesMSP Team- Sharlene, John, Angela – Minneapolis-St. Paul Realtors