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Welcome The Summer And Welcome Higher Interest Rates
Dated: June 20 2018
Views: 635
SUMMER IS HERE AND SO ARE HIGHER INTEREST RATES
5% interest rates were unthinkable a year ago and yet here we are today! What does this mean for buyers in today's market?
It averages out to $140 more per month for a home of $350,000 with 5% down. For most buyers, this jump in interest rate can mean the difference between a $350,000 home or a $325,000 home. But don't be scared just yet. There are possibly 2 more rate hikes this year. Can we see 6% interest rates this year? If you have a lower credit score, you might just get a 6% today. These rates are back to 2009 levels.
SO THE HEAT IS ON!!!!! YES I highly suggest you think about buying a property soon. Buying a property is always better than renting. Even with higher interest rates, you will most likely pay less on a mortgage than renting.
So if you are just curious on finding out what you would qualify for or are seriously thinking on buying a home this summer just ask! It's free to get pre-approved and there is no obligation.
There are still plenty of homes available. And keep your options opened. There are lots of great areas with really nice homes.
Click here for all the results
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