If you are considering a purchase, any purchase for that matter, that will require financing then the interest rates are (or should be) an issue.
(I am real estate agent - not a mortgage lender.)
How does the change in rates impact your payment?
On a $120,000 mortgage amortized over 30 years the changes in the monthly payment are:
Depending on the price range of your purchase the change in interest rates could add up to a sizable addition to your payment. Talk with your lender if you are considering a purchase. Get the mortgage in place before you call start seriously looking for that property. Get the mortgage rates locked in with a payment you are comfortable with!
Then call me if you are buying in Brevard County, Florida!
Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.