interest rate

July 23, 2010

5 reasons why you should buy a home

It’s time to start thinking seriously about purchasing a home. Here are 5 reasons that explain why homeownership is a great life decision for you and your family: 1) Interest rates for a 30 year fixed rate loan are the lowest they have been in 40 years and they are not going to stay that way forever. 2) It appears the market has hit bottom and will likely coast and slowly start to pick up. It’s in your best interest to buy now before prices start inching upward again. 3) If you are currently renting, your hard-earned money is really going down the drain. Instead you could be investing it in an asset. An asset you can use for tax breaks […]
February 3, 2010

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 […]