Mortgage Rates Increasing for keys

Mortgage Rates Increasing-Get Off The Fence!

Thomas Gilliam Blog , buyers , mortgage rate , mortgage rate increases , mortgage rates , Oakland County Leave a Comment

Mortgage Rates Increasing Can Effect What You Can Afford When you’re buying a home in Oakland County, Michigan, you might think the price you offer is ultimately the price you’ll pay, but if you’re buying a home with a mortgage, that’s not the case. With a mortgage, in addition to paying your principal (the amount of money the bank loans you to purchase your home), you’ll also pay the interest rate on that principal—which is why the mortgage rates increasing on a mortgage loan is so important to you as a home buyer or potential home buyers. Interest rates on mortgages …

Mortgage Rate Increases Affect Oakland County Homebuyers dollars

Mortgage Rate Increases Affect Oakland County Homebuyers

Thomas Gilliam Blog , homebuyers , mortgage rate increases , Oakland County Leave a Comment

Mortgage rate increases have been seen an increase around the Oakland County, Michigan area and there is talk that they may even increase more before the end of the year. Many homebuyers have noticed the increase in home prices but mortgage rate increases are a little bit harder for homebuyers to calculate in the terms of what it will cost them in the long run. Understand Mortgage Rate Increases In order for homebuyers to understand how mortgage rate increases will affect them here is a little help. In this model a less than one percent mortgage rate increase would result …