Our market has been great for both buyers and sellers. Prices are aggressively low, but interest rates are creeping up.
Right now, a 30-year-fixed-rate mortgage is around 4.5 percent. If you take out a loan of $350,000, you’re looking at a monthly payment of $1,700. What if rates increase to 5.5 percent, though? Your monthly payment is $1,900.
Two hundred dollars may not be a big deal to some people, but over the lifetime of the loan that’s a total of $77,000. Think of all the things you could do with $77,000!
So if you have been thinking about buying, give me a call at 203.727.8621 so we can get started on finding the perfect home for you!