How do rate changes affect buying power?

Interest rates directly affect your monthly payment and therefore how much you can afford. Even small changes can shift your price range significantly.

Why do rates matter so much?

Higher rates increase monthly payments, reducing your maximum loan amount.

How much difference does a rate change make?

A 1% increase can reduce buying power by roughly 10% or more, depending on the scenario.

Do rates affect all buyers equally?

No. Buyers near their maximum budget feel the impact most.

Should I wait for rates to drop?

That depends. Prices, competition, and your timing matter just as much as rates.

Can I refinance later?

Yes, if rates improve and your financial situation supports it.