reBlog from mygulfcoastbeachteam.com: Gulf Shores, Orange Beach, and Fort Morgan, Alabama Real Estate, Homes, and Condos

I found this fascinating quote today:

If rates rise 1%, you could see your purchase power decrease by 10%.  On a $250,000 home, that is a $25,000 drop in the amount of home you can purchase.  What about if rates go up 2% and rates end up in the 7’s?  We are talking a 20% decrease in purchase power, or in our example, fifty-thousand dollars!mygulfcoastbeachteam.com, Gulf Shores, Orange Beach, and Fort Morgan, Alabama Real Estate, Homes, and Condos, Jan 2010

You should read the whole article.

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