Home buying power grew 44% in 15 years

Screen Shot 2015-12-20 at 9.05.31 AMDaily Real Estate News

Falling mortgage rates have increased the purchasing power of home buyers by 44 percent since mid-2001, according to a new analysis by John Burns Real Estate Consulting.

The 30-year fixed-rate mortgage plunged from 7.2 percent in June 2001 to 3.9 percent today – which has allowed home buyers to qualify for a 44 percent larger mortgage just due to falling mortgage rates, according to the analysis.

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