30-year interest rate going back to 1981

 

Once rates start rising, didn’t you miss your opportunity?

 

A 1% rise in interest rates generally cuts 10% off your buying power. Example: Say you can afford to pay $400,000 with today’s record-low 3.875% rate. If the rate rises to 4.875% (that can happen quickly), what you can afford dropped to $360,000.

In short: Interest rates matter.