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How Falling Mortgage Rates Can Help You Get More Home for Your Money

Every time mortgage rates fall, the budgets of many homebuyers rise. 

That’s because lower rates may equal lower monthly mortgage payments. This may help some folks who were priced out of the housing market afford to get back in.

Others may be able to use that rate drop to purchase a more expensive property than they previously would have been able to afford.

“Just dropping the rate a little bit is going to create another opportunity for many families that were wanting to purchase a home and now they may be able to be eligible,” said Miguel Mouriz, vice president of Central Florida for New American Funding. He is based in Orlando, Fla.

Miguel Mouriz NMLS #283155