With interest rates at an all time record low, now is the time to buy!
Interest rates are rising and so are prices. The bottom of the market is over. Don’t be discouraged. Interest rates are still near all-time lows.
Let’s say you are approved to purchase a home for $150,000. At a 4% interest rate, your monthly principal & interest (without taxes & insurance) would be around $716. At a 5% interest rate, your payment would now be $805. At a 6% interest rate, your payment would be $899. See chart below. Notice how the interest rate affects your monthly payment. Don’t wait too long to buy.
See our previous blog, “Asking Prices Slip for First Time Since November 2012.”
Let us help you find your DREAM HOME. Know of someone wanting to buy? Please refer them to us. Email us or leave us a VM at 209-380-7748.
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