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 …