Results of Bankrate.com's July 28, 2010 weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:
| 30-year fixed | 15-year fixed | 5-year ARM | |
| This week's rate: | 4.71% | 4.17% | 4.07% |
| Change from last week: | -0.03 | -0.01 | +0.01 |
| Monthly payment: | $856.74 | $1,234.59 | $794.41 |
| Change from last week: | -$2.98 | -$0.83 |
+$0.96 |
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QUALIFIED FOR A LOAN YET? IF NOT, GO HERE AND APPLY ONLINE - |
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Five overlooked reasons why now is a great time to buy a home.
1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.
2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. Homeowners who have been holding back, kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.
3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system—and this is just the opportunity that owners of many desirable properties have been waiting for.
4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market. This ensures that today's deals will make it over the finish line.
5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by "workforce housing" programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.
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Jul 9, 2010
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Macon County NC Real Estate with Specialty in Franklin & Otto
"Offering Solutions to My Clients"
our gateway to Paradise in the Smokey Mountains of Franklin, NC. John Becker / Bald Head, provides a superior level of informed, professional real estate service to Buyers and Sellers. You can obtain any information you require in order to make an informed purchase regarding Franklin NC Homes for Sale and Franklin NC Properties for Sale with John Becker at Exit Smokey Mountain Realty. Call 828-506-3719..
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