Interest Rates – How Does Lower Interest Affect Affordability?

Posted on 10 June, 2015

It’s no secret that lower interest rates translate to savings for you, the buyer. But just how big of a difference does lower interest make in regards to affordability of a home? The infographic below says it all – the difference between a rate of 12.91% versus a rate of 3.80% means that you could afford a home that costs over twice as much.

Right now, our current interest rate for a 5 year, fixed term mortgage is 2.69%. This low interest rate makes owning that dream home of yours much more realistic. Call our office at 780-416-1085 today to book your free mortgage consultation, and find out what the current rates mean for you!

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