Now is the Time to Buy - Comparison of Interest Rates in Years Past
Joan really puts things in perspective with the comparison of how much money has, was and does cost- Money is cheap right now! Buy something!
Home buyers love to talk about the interest rates! Here is a brief post on "days past" with the interest rates by the decade Realtor.com had published. Back in the last '90's the Denver real estate market was HOT and homes did not stay on the market long, and the rates hovered around 8%. The days of 3.25% are gone, and buyers should no longer be thinking rates will decrease again.
- 1970s
Average 30-year fixed-rate mortgage: 8.86%
Approximate payment on a $200,000 mortgage: $1,589- 1980s
Average 30-year fixed-rate mortgage: 12.70%
Approximate payment on a $200,000 mortgage: $2,166- 1990s
Average 30-year fixed-rate mortgage: 8.12%
Approximate payment on a $200,000 mortgage: $1,484- 2000s
Average 30-year fixed-rate mortgage: 6.29%
Approximate payment on a $200,000 mortgage: $1,237- 2014
Average 30-year fixed-rate mortgage: 4.36%
Approximate payment on a $200,000 mortgage: $997
What will 2015's interest rate bring? With a full percentage increase from 2013, can you afford to wait another year? Let Joan Cox with Metro Brokers - House to Home, Inc. guide you through the home buying process!
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Metro Brokers - House to Home, Inc.
GRI, ABR, CRS, CNE, e-Pro
Broker/Owner
Joan@JoanCox.com
720-231-6373
A Denver Metropolitan Realtor
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