THIS article says there's downward pressure on mortgage rates.
How much difference will that make? Well, let's say you borrow $200,000 fully amortized over 30 years at 4.5% interest rate. Your principal and interest payment will be about $1014 per month (which is already a great payment, below what some pay in rent!). But at 3.5% interest, the payment drops about $116 to $898 per month (even more amazing). But you shouldn't wait for interest rates to drop if you can buy a home now. The latest sales numbers show increased sales activity and only slightly more than 2 houses available for every buyer. That means prices could rise if this high demand continues. So many things have to be evaluated before making your decision. Call us for a no-obligation consultation to discuss if buying a home is right for you now.
How much difference will that make? Well, let's say you borrow $200,000 fully amortized over 30 years at 4.5% interest rate. Your principal and interest payment will be about $1014 per month (which is already a great payment, below what some pay in rent!). But at 3.5% interest, the payment drops about $116 to $898 per month (even more amazing). But you shouldn't wait for interest rates to drop if you can buy a home now. The latest sales numbers show increased sales activity and only slightly more than 2 houses available for every buyer. That means prices could rise if this high demand continues. So many things have to be evaluated before making your decision. Call us for a no-obligation consultation to discuss if buying a home is right for you now.
David Jurewicz, Broker 00661096
Home Rocket Real Estate(r)
(916) 682-6454 Toll FREE: (800) 601-7653
http://www.HomeRocketRealty.com
Home Rocket Real Estate(r)
(916) 682-6454 Toll FREE: (800) 601-7653
http://www.HomeRocketRealty.com
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