How Low Will They Go?
October 31st, 2011
Thirty-year mortgage rates recently fell below 4 percent for the first time in history, bringing monthly mortgage payments down to record lows.
Thinking back to the 80's, home prices were considerably lower; however the mortgage rates were a staggering 18 percent. Today, we have a different market. Home prices are typically higher but with today's mortgage rates, monthly payment obligations are significantly reduced.
Our agents are ready to assist you with today's lending process and standards. We look forward to assisting you with all your home buying or selling needs. Give us a call.
Reference: National Association of Realtors, "Home Delivery", October 2011, Volume VIII, Issue 10