According to the article today on January 30, 2020 Mortgage Rates Basically at Best Levels Since 2016:
For top tier scenarios, the average lender is now offering rates not seen since 2016, with the slight exception of a few hours during the beginning of September 2019…. In other words, today is tied for the lowest levels in more than 3 years.
Matthew Graham
Time to Buy or Refinance
The graphic below indicates how purchasing power decreases as rates increase.
![Graphic depicting the decreasing purchasing power as interest rates rise.](https://i0.wp.com/www.sellingdanaestates.com/wp-content/uploads/2020/01/BuyersPurchasingPower.png?fit=600%2C450&ssl=1)
The inverse of the graphic is also true. As mortgage rates decrease, buyers can afford a higher priced home. Current owners can lower their payments.
This could be an opportunity to move up in home or to lock in a low rate mortgage. If you are interested in seeing how you could benefit, give me a call at 925-385-8798.
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