Interest rates are so favorable right now. They are lower than they have been in almost two decades. If you visit bankrate.com you will find that interest rates are currently at a 5.33 % interest rate for a 30 year fixed rate mortgage.
Today, a dollar-minded person realizes a good buy when you see it. When shopping for groceries or fuel, 1% or 2% doesn't make much difference, but in the home buying area, this is huge savings over the term of your loan.
Now is a great time to buy a home, no matter which way you look at it.
1 comment:
You are absolutely correct on the 1% or 2%. If I did the math correctly, a 5.33% rate versus a 6.33% rate would equate out to a homeowner being able to afford nearly $25,000 additional in the value of the house. And for many of us this could be the difference of having a house we like or a house we love.
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