Mortgage rates could swing 100 basis points in the next year.
That changes your buying power by up to $61,000.
Valley buyers need three different budget strategies based on when they want to close.
Buying in the next 12 months? Rates could hit 6% or 8%. Your $2,000 payment buys $272K or $333K.
Closing in 6 months? Your range narrows to $279K or $324K with the same monthly payment.
Planning to buy in 3 months? The shortest timeline has the smallest swing. $286K to $316K range.
Realtor.com analyzed 26 years of mortgage data and recommends building in a $130 monthly buffer. Based on the Valley median price of $429,500 with 10% down and current rates.
The next Fed meeting is October 28th. There's a 73.1% chance of another rate hike.
This isn't about waiting for the perfect rate. It's about knowing your real budget range before you start looking.
I will run the numbers for your timeline and show you the real range.
DM me directly and I will walk you through all three scenarios for your situation.
