I was at a meeting yesterday for our local Board. Our new president was talking about 'his message' and this is what it entailed.
He was saying that he googled mortgage rates. What came up shocked him...it said 2.95%! For 5 years!! While he was telling us this yesterday, he was asking if there was anyone in the room that had ever seen the mortgage rates so low. With some agents there having over 30 years in this business, not one could remember a time that they hit this depth. So he started giving us a breakdown.
If you were to go out today and buy a house for $130,000 and opt for the 2.95% interest rate at 5 years, you would be looking at approx. $612.00/month. That's incredible! That's less than a car payment or rent.
I wish that this had've been available when I FINALLY convinced my husband to buy our first home, it would've made it happen alot sooner! Guess I should add that in the meantime, I was living with my in laws..how fun!
So when your local Realtor tells you that NOW is the time to buy - we arent kidding! Time to get your feet wet!
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