Mortgage Rates Are Up - Check Your Numbers

[Tyler Hodgson]

If you're in the market to purchase right now (investment property or primary residence), you may want to get an updated interest rate quote from your mortgage broker. In the last couple of weeks rates have JUMPED over 0.50%. The average is now up to 3.75% on a Conventional primary residence (Source: Mortgage News Daily). 

So if you were running numbers based on rate quotes you got in December or before, you'll want to update those calculations! This could limit you buyer power also, if your debt-to-income ratio was near the max at a lower interest rate.