Blog > How Do Interest Rates Impact Home Affordability?
Even small changes in mortgage rates can significantly affect monthly payments and overall affordability. For example, a one-percent rate increase can reduce purchasing power by tens of thousands of dollars. Lower rates expand buyer demand, driving prices up; higher rates tend to cool activity and stabilize markets. Understanding rate trends helps buyers time their purchase strategically. Locking in a favorable rate can make the difference between stretching and staying comfortable.
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