As you may have been hearing, interest rates are at an all-time low. Just recently, we’ve seen them drop to a level that’s lower than they’ve been in about four years. That makes it an incredible time to buy a new home.
For example, if you purchased a home right now for $300,000 at a 3.5% rate, your payment will be roughly $1,350 per month. If you wait until the rate rises to 4.5%, your payment per month on that same $300,000 home would be over $1,500. That’s a difference of $150 per month just by waiting to make that purchase.
If you love where you live, now is also a great opportunity to refinance your home. If this is the case, we have a great selection of lenders we can put you in contact with.
If you’re on the other end of the spectrum and you’re toying around with the idea of selling your home, now’s the time. Rates are low, which means buyers are still out there prospecting. It’s a seller’s market, so home values are at an all-time high.
Whether you’re leaning toward buying or selling, give me a call or send me an email so I can help in any way I can. I look forward to hearing from you.