They care about what they can afford each month. They indirectly care about the rate. The sign on the starter home neighborhood near me was $719/mo when I moved here in 2020. It crept up to 850, 970, 1100, and then they changed the sign to not have that information. Same houses.
Hopefully only sane mortgage products continue to be used so it doesn’t end up like automobile loans. Aren’t most car loans 72 months now? That’s what is required to get the monthly note affordable for most buyers.
Hopefully only sane mortgage products continue to be used so it doesn’t end up like automobile loans. Aren’t most car loans 72 months now? That’s what is required to get the monthly note affordable for most buyers.