Because of "market volatility", my purchasing power got cut in half. What gives?

Not sure if it matters, but this is for an investment property, and the lender is PenFed.

Per the loan officer's suggestion, I paid off my auto loan, I didn't originally because it's at 2.5%. So I expected my purchasing power to go up, but to my surprise, it got cut in half.

I guess this is tied to Silicon Valley Bank. Is anyone else seeing this? I plan to reach out to more banks, but I'm curious if there's something I should know.

submitted by /u/spe-swa
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source https://www.reddit.com/r/RealEstate/comments/126m7dj/because_of_market_volatility_my_purchasing_power/