[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fduwajx27c4td":3,"$ffeh0925h8cuz":44,"$fbwk2pqjjqsc7":48},{"item":4,"previous":32,"next":38},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":12,"body":13,"agentsBottomLine":14,"bodyImage":15,"isInfographic":16,"categories":17,"isVideo":16,"videoThumbnail":9,"videoSource":9,"publishedAt":30,"updatedAt":31},37991,"what-lower-mortgage-rates-mean-for-your-purchasing-power","What Lower Mortgage Rates Mean for Your Purchasing Power","\u003Cp>If you want to buy a home, it's important to know how mortgage rates impact what you can afford and how much you’ll pay each month.\u003C\u002Fp>","","blog","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240104\u002F20240108-What-Lower-Mortgage-Rates-Mean-for-Your-Purchasing-Power.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240129\u002FSTM-Banner-20221219-Blog.jpg","\u003Cp>If you want to \u003Ca href=\"\u002F2023\u002F11\u002F23\u002Fwhy-homeowners-are-thankful-they-own\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">buy a home\u003C\u002Fa>, it's important to know how \u003Ca href=\"\u002F2023\u002F12\u002F20\u002Fwhy-mortgage-rates-could-continue-to-decline\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">mortgage rates\u003C\u002Fa> impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently under \u003Ca href=\"https:\u002F\u002Ffreddiemac.gcs-web.com\u002Fnode\u002F28216\u002Fpdf\" rel=\"noopener noreferrer\" target=\"_blank\">7%\u003C\u002Fa>, according to \u003Cem>Freddie Mac\u003C\u002Fem> (\u003Cem>see graph below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp> \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240104\u002F20240108-Mortgage-Rates-Fall-Below-Seven-Percent.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240104\u002F20240108-Mortgage-Rates-Fall-Below-Seven-Percent.png\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>This recent trend is great news for \u003Ca href=\"\u002F2023\u002F12\u002F15\u002Fwhat-you-need-to-know-about-down-payments-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">buyers\u003C\u002Fa>. As a recent article from \u003Cem>Bankrate\u003C\u002Fem> \u003Ca href=\"https:\u002F\u002Fwww.bankrate.com\u002Fmortgages\u002Fanalysis\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">says\u003C\u002Fa>:\u003C\u002Fp>\u003Cblockquote>\u003Cem>“The rate cool-off somewhat eases the housing affordability squeeze.”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>And \u003Ca href=\"https:\u002F\u002Fwww.mba.org\u002Fnews-and-research\u002Fnewsroom\u002Fnews\u002F2023\u002F12\u002F21\u002Fmortgage-application-payments-increased-2.0-percent-to-2-199-in-october\" rel=\"noopener noreferrer\" target=\"_blank\">according\u003C\u002Fa> to Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the \u003Cem>Mortgage Bankers Association\u003C\u002Fem> (MBA):\u003C\u002Fp>\u003Cblockquote>\u003Cem>“MBA expects that affordability conditions will continue to improve as mortgage rates decline . . .”\u003C\u002Fem>\u003C\u002Fblockquote>\u003Cp>Here’s a bit more context on how this could help with your plans to \u003Ca href=\"\u002F2023\u002F12\u002F12\u002Fdown-payment-assistance-programs-can-help-pave-the-way-to-homeownership\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">buy a home\u003C\u002Fa>.\u003C\u002Fp>\u003Ch4>\u003Cstrong>How Mortgage Rates Affect Your Search for a Home\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>Understanding the connection between mortgage rates and your monthly home payment is crucial for your plans to \u003Ca href=\"\u002F2023\u002F12\u002F11\u002Fthe-perfect-home-could-be-the-one-you-perfect-after-buying\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">become a homeowner\u003C\u002Fa>. The chart below illustrates how your ability to afford a home changes when mortgage rates shift. Imagine your budget allows for a monthly payment between $2,400 and $2,500. The green part in the chart shows payments in that range or lower (\u003Cem>see chart below\u003C\u002Fem>):\u003C\u002Fp>\u003Cp> \u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240104\u002F20240108-Buyers-Purchasing-Power.png\" rel=\"noopener noreferrer\" target=\"_blank\">\u003Cimg src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240104\u002F20240108-Buyers-Purchasing-Power.png\">\u003C\u002Fa>\u003C\u002Fp>\u003Cp>As you can see, even small changes in rates can affect your budget and the loan amount you can afford.\u003C\u002Fp>\u003Ch4>\u003Cstrong>Get Help from Reliable Experts To Understand Your Budget and Plan Ahead\u003C\u002Fstrong>\u003C\u002Fh4>\u003Cp>When you're looking to \u003Ca href=\"\u002F2023\u002F11\u002F30\u002Fis-owning-a-home-still-the-american-dream-for-younger-buyers\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">buy a home\u003C\u002Fa>, it's important to get guidance from a local real estate agent and a trusted lender. They can help you explore different mortgage options, understand what makes mortgage rates go up or down, and how those changes impact you.\u003C\u002Fp>\u003Cp>By looking at the numbers and the latest data together, then adjusting your strategy based on today's rates, you'll be better prepared and ready to buy a home.\u003C\u002Fp>","\u003Cp>If you’re looking to \u003Ca href=\"\u002F2023\u002F11\u002F24\u002Fwhy-homeowners-feel-thankful-for-their-homes-infographic\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">buy a home\u003C\u002Fa>, you should know the recent downward trend in mortgage rates is good news for your move. \u003Ca href=\"\u002F2023\u002F12\u002F07\u002Fwhy-you-need-to-use-a-real-estate-agent-when-you-buy-a-home\u002F\" rel=\"noopener noreferrer\" target=\"_blank\">Let’s connect\u003C\u002Fa> and plan your next steps.\u003C\u002Fp>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240104\u002F20240108-Mortgage-Rates-Fall-Below-Seven-Percent.png",false,[18,22,26],{"id":19,"name":20,"slug":21},5,"For Buyers","buyers",{"id":23,"name":24,"slug":25},11,"First-Time Buyers","first-time-buyers",{"id":27,"name":28,"slug":29},38,"Move-Up","move-up","2024-01-08T11:30:00Z","2024-03-28T16:55:06Z",{"id":33,"slug":34,"title":35,"featuredImage":36,"publishedAt":37,"contentType":10,"isVideo":16},37919,"achieving-your-homebuying-dreams-in-2024-infographic","Achieving Your Homebuying Dreams in 2024 [INFOGRAPHIC]","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240104\u002FAchieving-Your-Homebuying-Dreams-in-2024-KCM-Share.png","2024-01-05T11:30:00Z",{"id":39,"slug":40,"title":41,"featuredImage":42,"publishedAt":43,"contentType":10,"isVideo":16},37885,"ways-your-home-equity-can-help-you-reach-your-goals","Ways Your Home Equity Can Help You Reach Your Goals","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20240104\u002F20240109-Ways-Your-Home-Equity-Can-Help-You-Reach-Your-Goals.png","2024-01-09T11:30:00Z",{"cover":45,"open":46,"shareSpread":47},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[49,53,54,58,62,66,70,71,75,79,80,84,88,92,96,100,104,108,112,116,120,124,128,132,136,140,144,148,152,156],{"id":50,"name":51,"slug":52},1,"Uncategorized","uncategorized",{"id":19,"name":20,"slug":21},{"id":55,"name":56,"slug":57},6,"For Sellers","sellers",{"id":59,"name":60,"slug":61},7,"Foreclosures","foreclosures",{"id":63,"name":64,"slug":65},8,"Infographics","infographics",{"id":67,"name":68,"slug":69},9,"Home Prices","home-prices",{"id":23,"name":24,"slug":25},{"id":72,"name":73,"slug":74},34,"Senior Market","senior-market",{"id":76,"name":77,"slug":78},35,"Mortgage Rates","mortgage-rates",{"id":27,"name":28,"slug":29},{"id":81,"name":82,"slug":83},41,"For Sale by Owner","for-sale-by-owner",{"id":85,"name":86,"slug":87},42,"Featured","featured",{"id":89,"name":90,"slug":91},45,"New Construction","new-construction",{"id":93,"name":94,"slug":95},52,"Luxury \u002F Vacation","luxury--vacation",{"id":97,"name":98,"slug":99},53,"Rent vs. Buy","rent-vs-buy",{"id":101,"name":102,"slug":103},80,"Time-sensitive","time-sensitive",{"id":105,"name":106,"slug":107},81,"Outdated","outdated",{"id":109,"name":110,"slug":111},147,"Internal","internal",{"id":113,"name":114,"slug":115},148,"Do Not Autopost","do-not-autopost",{"id":117,"name":118,"slug":119},320,"Inventory","inventory",{"id":121,"name":122,"slug":123},321,"Agent Value","agent-value",{"id":125,"name":126,"slug":127},322,"Affordability","affordability",{"id":129,"name":130,"slug":131},323,"Buying Tips","buying-tips",{"id":133,"name":134,"slug":135},324,"Downsize","downsize",{"id":137,"name":138,"slug":139},325,"Economy","economy",{"id":141,"name":142,"slug":143},326,"Equity","equity",{"id":145,"name":146,"slug":147},327,"Forecasts","forecasts",{"id":149,"name":150,"slug":151},328,"Selling Tips","selling-tips",{"id":153,"name":154,"slug":155},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":157,"name":158,"slug":159},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]