The big news in real estate are the interest rates available today. Rates are being quoted this week around 3.75% on a 30 year fixed rate mortgage. When you compare that rate to the national average, you’d have to go back more than 40 years to find a comparable rate. Rates on 15 year mortgages are currently around 3.25%, which makes this a great time to look at purchasing a new home.
For every 1% increase in the mortgage rate, a buyer loses 10% of their purchasing power. So, if your looking at a $200,000 home today but wait and now rates are 4.75%, you’ll only be able to purchase a $180,000 home to keep that same payment.
The payment isn’t the only consideration when purchasing a new home but our budgets do define (along with the lender’s approval) what we find to be a comfortable payment. Our current market gives you the chance to get the most for your money. Connect with us on the phone or online to schedule a confidential visit today.
I have always been called to helping others, and for over 20 years the real estate business has allowed my personality to come through as I develop relationships with my clients.
Building a relationship of trust with my clients is always my top priority. Transactions go smoothly when my clients know I will use my expertise and experience for their best interest. Buying any property, especially your personal home, can be a stressful process. Acting as the guide, counselor, educator, and friend during the process puts my clients at ease.
Interested in working together? Please reach out. I look forward to hearing from you!