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Dropping Mortgage Rates & What That Means for Your Buying Power

January 27, 2020
  • Did you know mortgage rates have dropped nearly 1% since this time last year?

  • If you could afford a $1,000 mortgage payment, in 2019 that would have bought you a house at $195,000. With today's rates, a $1,000/month payment gives you the buying power to afford a $220,000 home. That's $25,000 more YOU can afford because of less than a 1% drop in interest rates! 

  • OR with a $195,000 home in 2019, your monthly mortgage payment would have been around $1,000/month. With the low 2020 rates, you can get a $195,000 home for just $890/month,* which means more money in your pocket.

  • Either way, YOU win and there's never been a better time to take advantage of the low mortgage rates!


  • *Estimated monthly payment is based on today's average interest rate and a 30 year term. Interest rates and terms vary based on the lender, buyer's credit portfolio and scores, debt:income ratios, and more. Call our office and speak with one of our sales consultants for more information.