The Effect of Rising Interest Rates

How Are Rising Interest Rates Affecting You?

Hey, everyone! There has been a lot of talk about interest rates lately and how they affect our market. In the past 30-45 days, interest rates have crept up. This has created a sense of urgency for many buyers; they want to get the most house for their money.

Today, I wanted to tell you more about how increasing rates affect your monthly mortgage payment. If you borrow $200,000 from the bank at a 4 percent interest rate, your monthly payment for a 30 year fixed rate loan is $954.

If rates rise to 5 percent, that same loan will cost you $1,073 a month. And if interest rates increase to 6 percent, your payment will be $1,199. That’s a $245 difference per month.

The good news is it is still a great time to buy; buying is cheaper than renting.

Buy that new home now before rates increase and you lose buying power. Give me a call at (912) 272-3463.

Why work with us?

The McIntosh Team's goal is to provide their clients with service that is second to none. As Savannah natives, they pride themselves on their ability to share their knowledge with buyers who may be moving to the area, or have found their dream home and need a team of professionals to assist them in getting it for the best price possible. The McIntosh Team provides sellers with accurate market statistics, aggressive pricing, and marketing strategies that will ensure they get top dollar for their home.

The McIntosh Team does such a great job meeting the needs of their clients that over 70% of their business comes from referrals. They have a wealth of knowledge and expertise about buying and selling and are proven professionals, with distinctive awards for their expertise and commitment to their clients. They keep the lines of communication open, so your questions about the process are promptly answered. If you want a smooth and successful real estate experience, the McIntosh Team is only a call away!

Jason & Christina McIntosh
The McIntosh Team
329 Commercial Drive, Ste. 100
Savannah, GA 31406
Phone: 912-436-6551
Mobile: 912-272-3463
Fax: 912-356-5101
themcintoshteam@gmail.com

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Shelia - "I was very pleased with the McIntosh Team. They immediately started marketing for it and had a professional come to take the pictures. They were on the ball the whole way and I didn’t have to chase them down to get answer. Everything moved right along and it sold within a week of being listed!"

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The Effect of Rising Interest Rates