Shell shocked, twitchy, gloomy, skittish, troubled, beleaguered, bummed - words among many that describe today’s consumer - you and me. Real Estate sales have slowed. Nobody knows what this afternoon’s headline will scream. So it’s seems best to stop, stoop, rock, wait, twiddle thumbs or wring hands. It seems logical doesn’t it? Ahhh…but there’s a distant drum beating. Bongo Buzz that Uncle Sam will woo mortgage rates to an OMG, Once In Your Lifetime, Operators Are Standing By - Act Now - 4.5% Mortgage Interest Rate. Huh? Almost sounds like a cheezy infomercial - too good to be true. Time will tell - if it happens, what will you do? Will you BUY or Refinance or Sit Frozen? Here’s a couple of articles on the matter: What does a Mortgage Interest Rate Rate of 4.5% (30 year term) equal per: Per $1,000 = $5.7 per month Per $100,000 = $570 per month Per $200,000 = $1,140 Per $300,000 = $1,710 Per $400,000 =$2,280 * Keep in mind, you’ll have Property Taxes and Insurance added into your total as well. [If your renting, maybe your mortgage payments would be way less, plus you get a tax benefit, plus first time buyers get a Tax Credit] Stay tuned, I’ll keep you posted. And just so you know, today’s Mortgage Rates are just a tick above 5% - a fantastic rate by any measure. Any questions, give me a call: Ken Brand - 832-797-1779What If Mortgage Rates Fell To 4.5% - Would You BUY or REFI?
NPR Article
Market Watch Article
Washington Post Article
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