Mortgage Payments Explained: How Interest Rates Impact Buying Power

Homeowners live in their monthly payments, not the purchase price.
To illustrate this, we will compare two interest rates on a conventional 30-year fixed-rate mortgage: 6% and 7%. That 1% difference, often referred to as 100 basis points, represents the approximate swing between more favorable rates and the high-water mark seen in late 2024.
Rather than thinking in decimals, the most useful way to evaluate this change is in dollars.

Deadlines Within Deadlines: Cooperative Board Packages and Commitment Letters

The following article was written by the fine folks at Weidenbaum & Harari, LLP – an excellent real estate law firm in New York City. I have been enthusiastically recommending my buyers and sellers to Barry Weidenbaum for a decade and plan to continue doing so for the next decade to come. This – along with every article on their site – is a great read and worthwhile information for any co-op purchaser, so I thought it would be beneficial to my readers. Thank you Barry and enjoy the article!