The Cost of Owning A Home Versus The Price of The Home

 

 

 

 

 

 

 

 

This goes back to what I have said time and time again but every 1% increase in interest rates reduces your buying power 11%.  This is one of the reasons you are seeing so many articles about why now is the time to buy.

You have to take a look at this chart from KCMBlog.com illustrating the impact of interest rates on your mortgage payment.  Interest rates will go up and when they start to you will see a large increase in a short period of time.