As mortgage rates rise, so will your payment. Buy while rates remain low.

May 28, 2010

It has been said that some buyers are waiting for home prices to fall more.  But as mortgage rates rise, any potential home price drop deemed as a "savings" can be easily wiped out by a higher interest rate.

Lock in a low mortgage rate now.  A short and to the point article on this point is here

Talk to a First Weber agent or a lender about how mortgage rates affect your ability to purchase.  The amount you are able to borrow depends on several factors: Your income, your debt and your credit score. The more rates and home prices go up, the less your money will buy. You can find information on mortgages from some of our mortgage partners on  and we recommend you speak to a lender before beginning the home buying process. 

Buying a home can be exciting, yet sometimes scary. It is important to select a real estate professional and a mortgage loan officer who you feel comfortable with.  Ask questions!  Education is a large part of the process and First Weber understands that.

Please feel free to ask questions of us here at anytime. We’d be happy to provide you with home buying answers.

Thank you for reading the First Weber Wisconsin real estate blog. 

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