|Low rates increase buying power!|
As buyer's, when things are "on sale", like mortgage rates are and like home prices are, we feel we can afford more. And we can.
On the flip side, as the housing market continues to recover and we begin to see higher prices, coupled with slowly increasing mortgage rates.
Click here for my blog post Mortgage rates to rise, slowly in 2013 when borrowing ability will decrease on TWO fronts. In the future we will see:
- Higher rates and
- Higher home prices