Selling your house this fall is absolutely doable. But there’s something you need to know about this time of year. Buyer activity typically starts to slow while the number of
1% Equals 10% Rule
Dated: September 22 2026
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With the recent rise in interest rates, about 7.25% for a mortgage as of this writing, I thought I would explain how interest rates affect your purchasing power.
The is a rule, the 1% equals 10% rule, it tells us that for every 1% increase in interest rates your purchasing power decreases by 10%. The opposite is true if interest rates go down. For 2026 the median purchase price is $350,000. So let's go through a hypothetical situation.
Rates are good, they're at 5.25%. You have been approved for $350,000 so you can buy an average Miami County home. But a month after you applied interest rates go up to 6.25%. Your maximum purchase price has now dropped to $315,0000. Even worse, they go up to 7.25%, where interest rates are currently. Now your purchase price has dropped to $280,000.
One of the things I tell potential clients who are looking to buy but want to wait is, "prices aren't coming down, there is no crash coming." I truly believe that prices in this area are going to stay about where they are now. If you're thinking about buying but are worried about overpaying, do not wait any longer. Get preapproved, know what you can afford, and we'll find you what you are looking for. If you have a fear of missing out and are waiting for the perfect house, you may just price yourself out of your dream home. Call me today and we can go over your options.
Jason Eastland
My name is Jason Eastland. I grew up on a farm in Stanley, KS. We had beef cattle and row crops. I have a degree in Agribusiness from Kansas State University. I have been in sales since graduating fro....
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