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What Are You Waiting For? The Cost Of Waiting To Buy

By
Real Estate Agent with Keller Williams Realty First Atlanta

Mortgage rates are constantly changing in today’s economy.  Other than giving the media today’s headline, what does it mean to you?  Simple.  Waiting could be costing you thousands of dollars! 

Buy Now Or Wait?
Scenario 1:
Home Prices decrease by 5%
Interest Rates increase by 0.5%
Scenario 2:
Home prices decrease by 10%
Interest Rates increase by 1.0%

Home Price
$200,000

Home Price: - 5%
$190,000
Home Price: - 10%
$180,000
Interest Rate
6%
Interest Rate: +0.5%
6.5%
Interest Rate: + 1.0%
7.0%
Payment
$1,199

Payment
$1,201
Payment
$1,198

If you have been thinking about buying a home, there has never been a better time than right now!

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