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Keith Kyle - Vista Sotheby's International

As Interest Rates Rise….how Does it Impact Torrance Home Buyers?

August 13, 2018 by Keith Kyle

Many prospective home buyers are concerned with rising interest rates.  While the Torrance interest rates in 2018 are still historically very low, the concern is justified.  Higher interest rates mean reduced buying power.  With every slight rise in interest rates, the monthly payment increases reducing the price of a home that a buyer can qualify for.  See the chart below for an idea of how different interest rates impact monthly payment and what a buyer’s income needs to be to qualify.

Filed Under: Interest rates, Torrance CA real estate market, Torrance real estate trends Tagged With: interest rates, torrance home sales, torrance real estate

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