Interested in interest rates?

It’s a major incentive for buyers right now.

Business Week published an article in December titled “If you don’t buy a house now, you’re stupid or broke.” The article basically noted the historically low interest rates we are now experiencing.  Rates are currently around 5%, the lowest they’ve been in 40 years.  Here’s a look back so that you can see where we’ve been…

• Average of 9% in the 1970s
• 10% in the 80s and early 90s
• 7-8% for much of the 90s
• 6% only over the last couple of years

You have to understand the impact the rate has on purchasing a home. Every quarter point change is equivalent to approximately $6,000 for every $10,000 borrowed over the course of a 30 year fixed loan. We know interest rates won’t stay this low forever. So what are you waiting for?

Just one more reason to call me to discuss buying a home today.