According to the Austin Business Journal, mortgage rates are the lowest they have been in 60 years. That means the last time they were this low, it was 1951. Seriously.
This is great news for home buyers. It means that the time to buy is now. A lot of times buyers don't realize the power that mortgage rates hold over their purchasing power. Did you know that just a half a point increase in the interest rate could mean you lose $25,000 of buying power. Two points? You just lost $100,000. That means if you were looking at homes for $200,000, you should also look at homes for $100,000. That's what you'd get if you wait and the rates go up. Buying now is a genius move, while both interest rates AND prices are at rock-bottom.
The time to buy is now. If you are looking to buy a home in the Metroplex (particularly Denton County and North Dallas areas) give me a call and we can discuss your options. I'm here to help you get into the home of your dreams at an amazing price! Learn more about my services as a buyer specialist at bradleysellstexas.com.
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