If you are in the market to buy a house in Denver NC, then this is the time to do it. All of the information you may need on Denver NC Homes For Sale can be found by clicking the link!
For potential homebuyers who qualify, mortgage rates have again reached record lows, meaning hundreds of dollars of savings each month and year, as well as tens to hundreds of thousands of dollars in savings over the course of a 30-year, fixed-rate mortgage.
Mortgage rates are usually expressed as a percentage, but in this article using Denver estimates of property value on the size of the potential savings available to home buyers who buy now illustrate.
When examining mortgage rates, it's better to use actual home prices and figures, as they demonstrate the real saving (or costs) that small changes in interest rates entail.
For example, the 30-year fixed mortgage rate fell to 4. 17 percent this month, its lowest level ever, with rates for the same type of mortgage at 4.75 percent in June 2010 and about 6. 3 percent in October, 2007.
That does not sound like a big deal, right? Only a few percentage points, nothing to see double.
But, in fact, these small changes in percentages mean big savings in the short term, and huge savings in the long term.
Take for example a property in Denver: the median house price Median Denver real assets increased to $ 217,740 in June 2010, the ninth increase in just a month. When someone buys a home in their average monthly payment on a 30-year mortgage would vary greatly depending on the interest rate.
Were homebuyers to purchase now, with interest rates at historic lows (4.
17%), the average monthly payment would be $ 1,068. 98.
Had they bought in June 2010,when rates were only 0. 6 percentage points higher (4.
75%), their average monthly payments would be $ 1,135. 83.
This is more than $ 66 of savings per month, plus buy $ 800 savings per year and more than $ 24,000 savings for the life of the loan for the borrower now!
So the small changes in percentage points mean huge dividends in the Denver NC residential property market as well as in all others across the nation. So, now is the time to buy a home in Denver NC---before the interest rates rise again!