Posts Tagged: purchasing power

How Interest Rates Affect Purchasing Power

It’s no secret that interest rates impact a home buyer’s purchasing power. But how great an effect, exactly, do interest rates have? Take this example. Let’s say that you qualify for a Principal & Interest (P&I) monthly payment of $1,200—not including taxes, homeowner’s insurance, and mortgage insurance. The purchase details are: $295,000 sales price $1,200… Read more »