Home shoppers purchase two products when they buy a house – the property itself and a mortgage.

The difference between the two is the house price is advertised in living color online, on postcards, in QR codes, etc.

The loan pricing, however, is a little less dramatic.

The house listed in today’s market in Northern Virginia, while listed at $500,000, may actually sell for $515,000 or there abouts. The mortgage price, on the other hand, is measured in interest rates.

How will it effect your buying power?

Take a look this chart and you can actually measure the power of your monthly payment by watching rates move up and down.

About a month ago, rates were around 3.5% – now they are roughly a full percentage point ahead of that mark (yes – 4.5%).

What’s the phrase? You snooze you . . . Oh well – 4% rates are STILL REALLY GOOD RATES.

Contact us if we can help you talk with a loan professional or see how these moves in the market affect your buying power.