Buyers Purchasing Power
Buying a home is exciting and can be a little nerve-racking at the same time. Trying to figure out what a home will cost and how much one can afford can sometimes be confusing since rates are constently shifting. Right now our interest are rather low which are amazing times for a homebuyer.
An average home in our San Diego Metro neighbohoods right now is approximately $550,000-$570,000. A home buyer can purchase a home at $570,000 and have payments of approximately $2804.00 per month. Taking advantage of our low interest rates are crucial as you can see on this chart what happens as the interest rates escalate. That same payment will be $3148.00 if the interest rate increase by 1%.