![How Changing Mortgage Rates Impact You [INFOGRAPHIC]](https://sheasellsnj.com/wp-content/uploads/2024/02/mortgage-payments.png)
- If you’re looking to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month.
- That’s because even a small change in mortgage rates can have a big impact on your purchasing power.
- The best way to navigate changing mortgage rates and make an informed buying decision is to rely on the expertise of a local real estate professional and mortgage lender.
Shea Merritt is a licensed New Jersey real estate agent with eXp Realty, working with buyers and sellers across Middlesex, Monmouth, and Ocean counties. He grew up in Old Bridge. He writes here about the arithmetic behind a move: what a house would actually bring today, what the tax line does to a monthly payment, and how to compare offers on their terms rather than on the top number. If you are weighing a sale or a purchase, send him the address and he will run the numbers on it.