According to the latest Homeowner Equity Insights Report from CoreLogic, the average Arizona homeowner gained $28,000 in equity in just the last year. Look at some of the other states across our nation. WOW!
A lower interest rate can make a huge difference in your purchasing power. For example, if you are getting ready to buy a home and know that your budget allows for a monthly payment of $1200 - $1500 (marked in gray on table above), every time the mortgage rate increases, the loan amount has to decrease to keep your payment in the cost range.