How Mortgage Rates Affect Your Monthly Payment

In this Article...

In Charleston, South Carolina, understanding how mortgage rates impact your monthly payment is crucial, especially with forecasted fluctuations. Even minor rate changes can significantly affect your finances. Charleston Home suggests consulting with an agent or lender to see how varying rates can influence your payment.

How Mortgage Rates Affect Your Monthly Payment

Some Highlights

• Experts say rates will come down slightly in the year ahead – but some volatility is expected. So, you shouldn't try to time the market.
• Instead, it's better to focus on how even a small change impacts your future mortgage payment. As rates come down, even a little bit, your monthly payment on your next home will too.
• Want to see what this looks like at a different price point? Connect with an agent or lender.