In this Article...
In Charleston, understanding how mortgage rates influence your monthly payments is crucial. Charlotte Lemon, a Realtor at Charleston Home, suggests focusing on how minor rate changes can affect your finances. Even slight decreases in rates can significantly lower your payments, making homeownership more attainable.
How Mortgage Rates Affect Your Monthly Payment
Some Highlights
- Experts say rates will come down slightly in the year ahead – but some volatility is expected. So, you shouldn't try to time the market.
- Instead, it's better to focus on how even a small change impacts your future mortgage payment. As rates come down, even a little bit, your monthly payment on your next home will too.
- Want to see what this looks like at a different price point? Connect with an agent or lender.
