Buyers

Is Now a Good Time to Buy?

Mortgage rates remain low. Should you wait for rates to drop even lower and risk an increase? Mortgage rates follow the same trends as 10-year and 30-year bonds. When the bond yield goes up, mortgage rates go down. Care to track this? Go to www.Bloomberg.com or www.CNNFN.com.

The cost of borrowing when the rate is 8.5% is $7.69 per $1,000. At 6.5% it’s $6.32. On a $200,000 loan at 8.5%, the principal and interest payment would be $1,538 per month. At 6.5%, the figure is $1,264.

Here’s another way of looking at this: At the lower rate you could buy $43,000 more house!

Don't let your money go down the drain on rentals. NOW is the time to invest your hard-earned money into Real Estate. When you are ready to buy your perfect home, I will be ready to assist you.