Category: Real Estate

Interest rates play a crucial role in the homebuying process as they directly impact the affordability and overall cost of purchasing a home. Here’s how interest rates affect homebuyers: Mortgage Affordability: When homebuyers take out a mortgage to finance their home purchase, they borrow a certain amount of money from a lender. The interest rate on the mortgage determines the cost of borrowing that money. Higher interest rates mean higher monthly mortgage payments, which can […]