Market Information

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 […]