How Does A Rise In Interest Rates Impact Your Buying Power?

If, at the fixed rate shown below, you qualified for a loan amount of:

What loan amount would you qualify for

based on a higher rate of:

4.50% 5.50% 6.50%
(4.665% APR) (5.679% APR) (6.694% APR)
$ 200,000 $ 178,411 $ 160,267
$ 300,000 $ 267,705 $ 240,480
$ 400,000 $ 356,822 $ 320,535
$ 500,000 $ 446,116 $ 400,748
$ 600,000 $ 535,410 $ 480,960
$ 700,000 $ 624,527 $ 561,015
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Courtesy of Rob & Sandy Racz – Managing Broker, AB, CRS, GRI, ABR    Windermere Real Estate     Rob@EverettRealEstate.com

425.345.7229       www.EverettRealEstate.com

Have We Seen the Bottom of Mortgage Interest Rates?

Mortgage Interest Rates on fixed mortgages edged up again this week after hitting their lowest level in several decades last month!  Freddie Mac’s average rate for a 30 year fixed loan rose to 4.46% up from 4.40% last week.  Three weeks ago the rate hit 4.17% the lowest level since 1971.

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___________________________________________________________________________________________

Courtesy of Rob & Sandy Racz – Managing Broker, AB, CRS, GRI, ABR    Windermere Real Estate     Rob@EverettRealEstate.com

425.345.7229       www.EverettRealEstate.com