How Do Interest Rates Affect Home Ownership?

Interest rates are much higher now than they were a few years ago. But, they are still much lower than they have been in the past. Mortgage rates really soared during the late 1970s and early 1980s. It was not uncommon for mortgage rates to exceed 15% for a 30-year fixed-rate mortgage. You may be wondering how interest rates can affect your ability to buy a home? There are several ways…