RE/MAX Central - Doug Stonehocker
While that gain is a bit smaller month-to-month (see August to September in the chart), September numbers are still up from the month prior.
A Story About Today’s Buyer Demand
When buying a home, it’s important to determine a monthly budget so you can plan for and understand what you can afford. However, when you need to stick to your budget, even a small increase in the mortgage rate can make a big difference. According to the National Association of Realtors (NAR), today, the median existing-home price is $313,000. Using $300,000 as a simple number close to the median price, here’s an example of how a change in mortgage rate impacts your monthly principal and interest payments on a home.